KKR, a global private equity firm, has agreed to invest $400 million (approximately Rs 3,300 crore) in Serentica Renewables, a decarbonization platform that seeks to enable energy transition through clean energy solutions.

KKR invests through its Asia Pacific Infrastructure strategy. According to both companies, the transaction in Serentica is KKR’s latest investment in India and the renewables sector.

Serentica Renewables was founded in 2022 and is 100 per cent owned by Twinstar Overseas, which is owned by Indian businessman Anil Agarwal’s Volcan Investments Cyprus. Twinstar Overseas, which Agarwal founded, also has a controlling stake in Sterlite Power Transmission and Sterlite Technologies.

Serentica, based in Gurugram, is committed to industrial decarbonization by making renewables the primary source of energy for the commercial and industrial sectors, which consume more than half of all electricity generated in India. Serentica’s goal is to provide reliable renewable energy by combining solar, wind, energy storage, and balancing solutions.

KKR’s most recent renewable investment was $450 million (approximately Rs 3,585 crore) in Hero Future Energies (HFE), the Hero Group’s renewable energy arm.

Serentica’s sole financial adviser for this transaction was Standard Chartered Bank.

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