1 week ago
Serentica, Resonia Plan Rs 1.2 Lakh Crore Capex
Serentica Renewables and Resonia want to spend a very large amount of money on clean energy and electricity networks.
They plan to invest Rs 1.2 lakh crore over the next four years.
Serentica wants to add about 4 GW of wind and solar power every year.
It also plans to build batteries that can store 6,000 MWh of electricity.
The batteries could help provide clean power when the sun is not shining or the wind is not blowing.
Resonia hopes to win new projects to carry electricity across the country.
The companies are also considering work on special high-voltage power systems and electronics.
They say they already have funding and land plans to support this growth.
Serentica Renewables and Resonia plan Rs 1.2 lakh crore in capital spending over four years, after Rs 40,000 crore already invested.
Serentica aims to add 4 GW of renewable capacity annually and build a 6,000-MWh battery portfolio.
Resonia is targeting Rs 20,000-40,000 crore in new transmission projects from a Rs 1-1.5 lakh crore bidding pipeline.
Serentica has signed contracts for about 9 GW of renewable capacity and has crossed 3 GW of operating capacity.
The group is evaluating entry into high-voltage direct current systems and power electronics while expanding grid-monitoring technology.
- Who
- Serentica Renewables and Resonia, led in the interview by Pratik Agarwal, chairman of both companies and managing director at Sterlite Electric.
- What
- The companies plan Rs 1.2 lakh crore of capital expenditure, including renewable generation, battery storage and transmission projects.
- Where
- The projects are in India; the first 200-MW battery capacity was commissioned in Bikaner.
- When
- Over the next four years; the battery portfolio is planned over the next two to three years, while transmission awards may begin next week.
- Why
- To expand renewable power generation, provide more reliable clean electricity, develop transmission infrastructure and pursue related grid technologies.
Key facts
- Planned capex
- Rs 1.2 lakh crore over four years
- Previous investment
- Rs 40,000 crore already invested
- Renewable growth target
- Approximately 4 GW of additions annually
- Battery target
- Around 6,000 MWh within two to three years
- Transmission pipeline
- Rs 1-1.5 lakh crore of bidding opportunities
- Expected transmission wins
- Rs 20,000-40,000 crore, or roughly 10-20% of the pipeline
- Land holdings and plans
- 20,000-25,000 acres currently available, with another 10,000-12,000 acres planned for acquisition annually
Quotes
Pratik Agarwal
Chairman of Resonia and Serentica Renewables and Managing Director at Sterlite Electric
“The idea is to integrate wind, solar, batteries and the national grid to offer what we call “thermal mimic power” to customers.”
financialexpress.com
Sources
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