Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Serentica Secures $100+ Million ECB for 300 MW Solar Project Supplying BALCO

Serentica Renewables has achieved financial closure for its second External Commercial Borrowing (ECB) financing, securing over $100 million in debt from global institutions Rabobank and Société Générale. The funds will support the development of a 300 MW solar power project in Rajasthan, which is strategically designed to supply clean energy to Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Group.

This project marks a significant step in India's push to decarbonize energy-intensive industries. Akshay Hiranandani, CEO of Serentica, emphasized the milestone as a vote of confidence in the company’s mission to accelerate India’s energy transition. Rabobank reiterated its commitment to supporting impactful energy transition projects in India.

The transaction highlights Serentica's growing expertise in structuring innovative financing deals and forging strong international partnerships. It also underlines the increasing trust of global lenders in the company’s ability to deliver sustainable power solutions to large industrial consumers. By enabling decarbonization of hard-to-abate sectors like aluminum production, this project contributes meaningfully to India’s broader climate and energy goals.