Serentica Renewables signs major energy storage deal with Greenko
Renewable energy developer focused on commercial & industrial (C&I) customers, Serentica Renewables (Serentica) on Monday (July 10) announced it has signed standalone energy storage capacity offtake contract with global renewable energy developer, Greenko Group.
As part of the contract, Serentica will capitalize on Greenko's unique energy storage capabilities to utilize a cumulative 1,500 MWh capacity from its upcoming energy storage projects in Andhra Pradesh and Madhya Pradesh.
"Long duration energy storage is critical to decarbonizing the country's energy consumption and reducing greenhouse gas emissions. As we gear up to deliver round-the-clock renewable energy for our industrial customers, this unique energy storage capacity offtake contract with Greenko, puts us on an accelerated trajectory in our mission to transition hard to abate, energy intensive industries to clean energy and help reverse climate change," said Pratik Agarwal, Director, Serentica Renewables.
The landmark deal will support Serentica's ambitions of providing round-the-clock, firm, and dispatchable renewable energy to its industrial customers with an annual assurance of >95% and a 15-min time-block assurance of >85%, the company stated .