Serentica Renewables signs PPA with SECI for 600 MW FDRE project

Serentica Renewables, a leading renewable energy provider in India, has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 600 MW (2400 MWh) allocation under SECI’s FDRE VII Assured Peak tender, marking a key milestone in the project’s progression towards implementation. The company has emerged as the largest awardee under the auction, securing the highest allocation among all bidders.

The PPA formalises the long-term offtake arrangement and paves the way for the development of one of India’s most advanced Firm and Dispatchable Renewable Energy (FDRE) projects, designed to strengthen grid reliability by delivering renewable power during peak demand hours.

With a total tendered capacity of 4,800 MWh, FDRE VII is among India’s most advanced and technically complex renewable energy procurement frameworks. Unlike conventional renewable tenders, the Assured Peak structure mandates power offtake exclusively during non-solar hours, directly addressing the country’s growing evening peak demand and enhancing grid reliability.

The project is expected to generate around 975 million units of renewable energy annually and help avoid over 1 million tonnes of carbon emissions each year. With this win, Serentica’s utility-scale portfolio has grown over 8.7 GWp of renewable capacity.

Akshay Hiranandani, CEO, Serentica Renewables, said, “The signing of the PPA marks an important milestone in translating our successful bid into execution. As India’s power system evolves, the focus is shifting beyond renewable capacity addition to ensuring dependable, dispatchable clean energy. This project demonstrates how integrated renewable generation and storage can reliably serve peak demand while supporting grid stability. We remain committed to developing innovative energy solutions that accelerate India’s transition to a resilient, low-carbon power system.”

The project further strengthens Serentica’s role in advancing India’s energy transition by expanding the deployment of storage-backed renewable energy solutions. It also reinforces the company’s commitment to supporting the country’s growing demand for firm, flexible and reliable clean power while contributing to national energy security.