Mumbai: Serentica Renewables has signed a long-term Power Purchase Agreement (PPA) with MRF Limited to supply renewable energy under a captive power arrangement.
A special purpose vehicle (SPV) has been established for the project, with MRF holding a minority captive stake and the remaining ownership retained by Serentica. The clean energy will be sourced from a 170-megawatt hybrid renewable project under development by Serentica, combining solar and wind generation. Power from the facility will be transmitted through the Inter-State Transmission System (ISTS) to support MRF’s manufacturing operations across India.
According to the announcement, the arrangement is designed to meet MRF’s electricity needs while contributing to its sustainability and net-zero goals. The project aims to provide reliable, round-the-clock renewable power for industrial use.
Akshay Hiranandani, Chief Executive Officer of Serentica Renewables, said the partnership represents a significant step toward industrial decarbonization. “By combining renewable energy with cutting-edge storage and hybrid solutions, we are delivering clean and reliable power to help leading industries like MRF transition to a sustainable future,” he said.
The agreement adds to Serentica’s portfolio of renewable energy projects, supporting its efforts to expand clean energy adoption across India’s industrial and manufacturing sectors.
