By Bl Mumbai Bureau
Copyright thehindubusinessline
KKR-backed Serentica Renewables has signed a binding agreement to buy Norway-based Statkraft’s Indian solar business, said a statement. While the deal value was not mentioned, sources indicated that the enterprise value of the deal isaround ₹2,000 crore.
With this acquisition Serentica’s operating portfolio will rise to 1.5 GW, keeping it on track to achieve 17 GW capacity by 2030, the company said.
Statkraft has 445 MW of assets under operation at Bikaner, and another 1 GW of solar assets are coming up in Rajasthan. Its portfolio is strategically located in resource-rich States, and is currently supplying power on a merchant basis. These assets will be transitioned to serve Serentica’s commercial and industrial customers round-the-clock.
Serentica, set up in 2022, has 600 MW of operational assets and 4 GW under development, according to its website.
“Serentica Renewables is committed to the energy transition goals of India, and this acquisition is one more step in furthering that vision. By integrating this asset with wind and storage systems, we will be able to provide a faster round-the-clock solution to our largest clients,” said Pratik Agarwal, Chairman, Serentica Renewables, in the statement.
Statkraft produces hydropower, wind power, solar power, gas-fired power and supplies district heating, and has around 7,000 employees in more than 20 countries.
Published on September 15, 2025
