Serentica Clinches $100 mn Loan for BALCO Solar Project

Serentica Clinches $100 mn Loan for BALCO Solar Project

Serentica Renewables has secured more than USD 100 million in external commercial borrowing (ECB) from Rabobank and Société Générale to develop a 300 MW solar project in Rajasthan that will supply power to Bharat Aluminium Company Ltd (BALCO), a subsidiary of the Vedanta Group.

This marks Serentica’s second ECB deal, reinforcing the company’s push to support India’s industrial decarbonisation. The project aims to provide round-the-clock renewable energy to BALCO, one of India’s top aluminium producers.

Serentica Gets A Boost

“The successful financial close, backed by global partners like Rabobank and Société Générale, reflects growing confidence in our mission to accelerate India’s energy transition,” said Akshay Hiranandani, CEO of Serentica Renewables.

Amardeep Parmar, Head of Project Finance Asia at Rabobank, said the transaction underlined the bank’s commitment to India’s clean energy goals. “We are proud to partner again with Serentica and support a project that will deliver long-term sustainable impact,” he said.

Thrust on C&I Consumers 

The financing for Serentica is seen as a key step in Serentica’s strategy to provide clean, reliable energy to commercial and industrial users, especially in hard-to-abate sectors like aluminium. The company continues to tap into global capital markets and form strategic alliances to fund large-scale clean energy infrastructure.

The deal further signals the confidence international lenders place in Serentica’s business model, execution strength and its long-term vision for a greener industrial future.