Serentica Renewables (Serentica) said it has signed an agreement with Greenko Group for taking daily supply of 1,500 megawatt (MW) from energy storage facilities.
The power will be sourced from Greenko Group’s upcoming energy storage projects in Andhra Pradesh and Madhya Pradesh and supplied to industrial customers, Serentica said in a statement.
“Serentica has signed a first-of-its-kind standalone energy storage capacity offtake contract with global energy storage developer, Greenko Group. As part of this contract, Serentica will leverage Greenko’s unique energy storage capabilities to utilise a cumulative 1,500 MWhr capacity,” it said.
The agreement is for a period of 25 years.
Pratik Agarwal, Director, Serentica Renewables, said, long duration energy storage is critical to decarbonizing the country’s energy consumption and reducing greenhouse gas emissions.
The unique energy storage capacity off-take contract with Greenko puts Serentica on an accelerated trajectory in its mission to transition hard-to-abate, energy-intensive industries to clean energy and help reverse climate change.
Serentica Renewables provides renewable energy through a combination of solar, wind, energy storage and balancing solutions enabling the transition of large-scale, energy-intensive industries to clean energy.