Serentica Secures USD 100+ Million External Commercial Borrowing for 300 MW Solar Project

Serentica Renewables, a leading Commercial & Industrial (C&I) focused renewable energy company in India, is proud to announce the successful financial close of its second External Commercial Borrowing (ECB) financing. The company has secured USD 100+ million in debt financing from global financial institutions Rabobank and Société Générale to support the development of a 300 MW solar power project in Rajasthan.

This strategic project has been designed to supply green energy to Bharat Aluminium Company Limited (BALCO), one of India’s leading aluminum producers and a subsidiary of the Vedanta Group, marking another significant step in decarbonizing India's industrial sector.

Commenting on the project milestone Akshay Hiranandani, CEO of Serentica Renewables, said, “This successful financial close, backed by global partners like Rabobank and Société Générale, is a testament to the growing confidence in our vision to accelerate India's energy transition. It's a crucial step in our mission to provide reliable, clean energy solutions that empower industrial giants like BALCO to decarbonize, driving a greener and more sustainable future for the nation.”

“This transaction reflects Rabobank’s continued commitment to supporting energy transition in India. We are proud to partner again with Serentica and bring our structuring expertise to a project that will deliver strong long-term sustainable impact,” said Amardeep Parmar, Head of Project Finance Asia, Rabobank.

The successful closure of this ECB financing represents a key milestone in Serentica’s ongoing efforts to accelerate the energy transition and decarbonize India’s hard to abate industries. Serentica continues to demonstrate its ability to structure innovative financing solutions and forge global partnerships that allow for the company to deliver on its mandate of providing reliable, clean energy to large commercial and industrial consumers.  This further reinforces the confidence that international lenders share in Serentica’s robust business model, strong execution capabilities, and long-term vision to drive a greener future for India.