Hindustan Zinc Ltd., a subsidiary of Vedanta, has signed a Power Delivery Agreement (PDA) with Serentica Renewables India 4 Private Limited for the supply of about 200 MW Renewable Energy (RE). This information was given in a press release by Hindustan Zinc, dated 3rd September 2022.
Serentica Renewables India 4 Private Limited is a Special Purpose Vehicle (SPV) which was constituted on 18th February 2022 for the purpose of supplying RE over a long-term period to Hindustan Zinc. Serentica Renewables is wholly-owned by Twinstar Overseas Ltd., which owns controlling stake in Sterlite Technologies Ltd. as well as in Sterlite Power Transmission Ltd.
Hindustan Zinc will hold 26% equity in Serentica Renewables after an investment of Rs. 350 crore in the company.
Serentica Renewables India 4 Private Limited’s projects will be commissioned within 24 months.