Serentica Renewables India 4 Pvt Ltd will set up suitable captive power projects in different parts of India, while the SPV will commission the projects
Hindustan Zinc, a part of the Vedanta group firm recently said it has entered into a pact with the special purpose vehicle (SPV) Serentica Renewables India 4 Pvt Ltd for delivery of renewable power. This contract has been signed for a long-term basis.The contract has been signed for delivery of 200 MW of renewable power. The funding of the project will be done on a 70:30 debt-to-equity ratio. The equity infusion will be at par as per investment pact and the tariff rate agreed has been independently benchmarked by a third party with reference to prevailing market tariff for renewable energy power and a cost-plus model prescribed by the Central Electricity Regulatory Commission.
Serentica Renewables India 4 Pvt Ltd will set up suitable captive power projects in different parts of India, while the SPV will commission the projects. The project has been infused with Rs 350 crore equity, which will be delivered according to the agreement