Overview

• Serentica entered binding agreements to acquire Statkraft’s Indian solar business, including a 445MWp operational plant at Bikaner and about 1GWp of wind and solar in development across Rajasthan.
• Completion depends on customary conditions precedent and regulatory approvals, with no closing date disclosed by the companies.
• The acquired assets currently sell power on a merchant basis and will be reconfigured to provide round‑the‑clock supply to commercial and industrial customers, targeting roughly 0.6 million tonnes of CO2 reductions annually.
• The purchase raises Serentica’s operating portfolio to about 1.5GW and supports its stated plan to reach 17GW by 2030.
• Statkraft said other Indian solar and hydropower assets are not part of the sale; Standard Chartered and Khaitan & Co advised the buyer, while EY and Cyril Amarchand Mangaldas advised the seller.