Serentica Global attains Rs. 3,500 Cr Funding for Green Projects

Leading Sustainable Energy in India, Serentica Global has obtained Rs. 3,500 crore funding from global and commercial banks for its 530 MW RTC (round-the-clock) renewable energy (RE) projects.

The total transcation of funding has brought together a group of six major banks including international players Rabobank, MUFG Bank, and Société Générale along with Indian lenders inlcuding YES Bank, Export-Import Bank of India, and India Infrastructure Finance Company (IIFCL).

In the entire transaction, Rabobank has occupied a major part as the single structuring bank for this renewable transaction in the C&I (Commerce and Industry) segment.

 This capital infusion to the company pursues closely after the company’s recent money owing raise of Rs. 5,600 crore from major power sectors PFC & REC.

Additionally, this transaction is expected to hold up the developmet of Serentica's Renewable Energy projects in the states Rajasthan and Maharashtra. The Renewable project aims to supply clean energy to Hindustan Zinc that replaces 24 percent of their coal-based power with green power and drastically minimizes their carbon footprint.

With the aim to supply more than nine billion units of clean energy per annum and offset 8.5 million tonne of CO2, the company is keen on  developing Renewable Energy capacities countrywide; Serentica Global’s long-standing goal is to supply more than 40 billion units of clean energy every year and displace 37 million tonne of CO2 emissions steadily.