Aim to expand capacity by '30 with ₹1 trn investment

Vedanta and KKR-backed Serentica Renewables is planning an ambitious capacity expansion by 2030. Chief executive officer (CEO) Akshay Hiranandani talks to Shine Jacob in Chennai about Serentica's future road map, and the current market scenario. Edited excerpts:

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We understand that you are working on projects of around 4 gigawatts (GW) in the renewables sector. What is the status?

Currently, we're building about 4,000 megawatts (MW) of wind and solar projects across Rajasthan, Maharashtra, and Karnataka. We have a solid pipeline, including 3-4 GW more from both government contracts and new power purchase agreements (PPAs). As these PPAs move into execution, we will keep the pipeline running at the same pace. This is not a single project; it comprises multiple PPAs that we have signed. To summarise, 1.4 GW capacity is already on the ground with around 750 MW operational and earning revenue. The remaining 500 MW is in the approval stage, and others in various stages of construction. Additionally, we are considering Gujarat and Andhra Pradesh, as the resource potential and infrastructure developments in these states make them key targets for future expansion.

What are your expansion plans for 2030, and how much investment will go into it?