Serentica & Greenko sign offtake deal

July 14, 2023

India’s Serentica Renewables has signed a standalone energy storage capacity offtake contract with global energy storage developer Greenko Group, which will result in Serentica utilising 1.5 GWhr of capacity from Greenko’s upcoming storage projects in Andhra Pradesh and Madhya Pradesh.

The deal will provide Serentica with an “annual assurance of >95% and a 15-min time-block assurance of >85%”, a statement said.

Pratik Agarwal, director, Serentica Renewables, said: “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.”