JSA Advises Serentica Renewables On USD 345.1 million Financing From Asian Development Bank, others

JSA Advocates & Solicitors (JSA) advises Serentica Renewables India 1 Private Limited (“Company”) in relation to rupee term loan facility not exceeding USD 345,100,000 availed by the Company from Asian Development Bank, New Development Bank, and 2 other lenders (a private commercial lender and an export promotion lender).

Established in 2022, Serentica Renewables is a leading renewable independent power producer (IPP) committed to decarbonizing hard-to-abate industries by providing firm dispatchable renewable energy (FDRE) solutions. The company has achieved a significant milestone by reaching 1,700 MW of renewable energy capacity, with ongoing projects across multiple states, leveraging a mix of solar, wind, energy storage, and advanced balancing solutions. 

Backed by a $650 million investment from KKR, Serentica aims to supply over 50 billion units of clean energy annually, enabling the displacement of 47 million tons of CO2 emissions.

The financing will be used for setting up of ground mounted solar photovoltaic capacity plant having 189.27 MW capacity in Karnataka; setting up of 204 MW of wind capacity plant located in Karnataka; and implementation of transmission lines connecting the Solar Project to the Grid Sub Station and transmission lines connecting the Wind Project to the Grid Sub Station and all ancillary works, infrastructure and utilisation.

The JSA team was led by Karan Mitroo, Partner, along with Purvi Dabbiru, Partner, and Aishwarya Dixit, Principal Associate.