Serentica Renewables secures $345.1 million debt financing from ADB-led consortium for 395.4 MW solar-wind hybrid project in Karnataka

Type: Financing · Technology: Hybrid · Country: India · Value: $345.1M · Announced: 2026-07-09

Serentica Renewables India 1 Pvt Ltd (SRI 1) secured $345.1 million in debt financing from a consortium led by the Asian Development Bank (ADB) to develop and refinance a 395.4 MW solar-wind hybrid project in Koppal, Karnataka. The financing includes $207.1 million mobilized by ADB from Export-Import Bank of India, New Development Bank, and Sumitomo Mitsui Banking Corp, with ADB retaining $138 million of its own exposure. The project combines 191.4 MW of ground-mounted solar PV and 204 MW of wind power capacity, designed to deliver round-the-clock renewable energy under a group captive model. Clean energy generated will supply Bharat Aluminium Co. Limited (BALCO), supporting its net-zero emissions target by 2050, with annual output of 1,073 GWh and CO2 emissions avoidance of 880,000 tonnes. The hybrid project spans dedicated solar and wind sites in Karnataka, utilizing integrated transmission infrastructure for efficient power evacuation.

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