Serentica Renewables to Develop 170 MW Hybrid Project to Supply Captive Power to MRF Ltd

Serentica Renewables, a leading renewable energy provider in India, has signed a long-term Power Purchase Agreement (PPA) with MRF Limited, India's largest tyre manufacturer, to supply clean power under the captive power framework. A SPV was created specifically to supply RE power to MRF in which MRF has picked captive minority stake and the rest is held by Serentica.

The clean energy will be supplied from a new hybrid renewable energy project with a total installed capacity of around 170 MW, currently under development by Serentica Renewables. The project will integrate both solar and wind generation to deliver round-the-clock renewable energy for MRF’s manufacturing facilities across India through the ISTS (Inter-State Transmission System) network.

This agreement helps in expanding company’s renewable energy solutions for a large industrial clients seeking flexible and reliable clean power. The captive arrangement will allow MRF to meet its substantial electricity requirements, supporting its ongoing sustainability and net-zero ambitions.

Commenting on the partnership, Akshay Hiranandani, CEO, Serentica Renewables, said, “Our partnership with MRF marks another major step in enabling India’s industrial decarbonization journey. 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.”

This partnership further reinforces Serentica’s commitment to accelerating clean energy adoption in India’s industrial and manufacturing sectors, complementing its growing portfolio of renewable energy projects across the country.

About Serentica Renewables

Established in 2022, Serentica Renewables is a leading renewable independent power producer (IPP) committed to decarbonizing hard-to-abate industries by providing firm dispatchable renewable energy (FDRE) solutions. With a vision to make renewables the primary energy source across India's energy landscape, Serentica is driving large-scale decarbonization & contributing to the nation’s broader goals, including through government tenders.

The company has achieved a significant milestone by reaching 1,000 MW of renewable energy capacity, with ongoing projects across multiple states, leveraging a mix of solar, wind, energy storage, and advanced balancing solutions. Serentica’s innovative approach ensures reliable and cost-effective green power for its growing customer base, which includes some of India's largest energy-intensive industries. Backed by a $650 million investment from KKR, Serentica aims to supply over 50 billion units of clean energy annually, enabling the displacement of 47 million tons of CO2 emissions. With a strong pipeline of projects under development, the company is at the forefront of India’s energy transition, deploying cutting-edge technology and innovative contractual structures to accelerate the shift to sustainable power.

Vodafone Idea Acquires 26% Stake in Aditya Birla Renewables SPV to Power Telecom Ops

In a strategic move to bolster its renewable energy portfolio, Vodafone Idea Limited has signed binding Purchase and Power Purchase Agreements (PPAs) on August 12, 2025, to acquire a 26% equity stake in Aditya Birla Renewables SPV 3 Limited (ABRen SPV 3). The special-purpose vehicle (SPV) has been established to own and operate a captive power plant, aimed at supplying clean energy to Vodafone Idea’s telecom operations.

Transaction Highlights

• Equity Stake: 26% in ABRen SPV 3
• Investment Value: ₹1.56 crore, to be infused in tranches over six months
• SPV Incorporation: November 21, 2024
• Authorised Share Capital: ₹6.50 crore
• Paid-up Capital: ₹1 lakh (10,000 equity shares of ₹10 each)
• Turnover: Nil as of date

The agreements were executed with Aditya Birla Renewables Limited, a related party under the Companies Act, 2013. The transaction has received approvals from both the Audit Committee and the Board of Directors of Vodafone Idea.

Vodafone Idea’s investment aligns with regulatory provisions under the Electricity Act, 2003, and the Indian Electricity Rules, 2005, which mandate equity participation for captive power consumption. The move is expected to provide cost-effective and sustainable energy, reducing operational costs and carbon footprint across its telecom infrastructure.

A spokesperson from Vodafone Idea commented, “This partnership reinforces our commitment to sustainability and energy efficiency. By investing in captive renewable energy, we aim to optimize costs and contribute to India’s clean energy transition.”

The telecom sector is increasingly turning to renewable energy to meet rising power demands while adhering to ESG goals. Vodafone Idea’s latest investment reflects a broader industry trend toward green infrastructure and energy independence.

Suzlon Secures A New 225 MW Order for their 3 MW Series from Everrenew Energy

• To supply 75 wind turbines with a rated capacity of 3 MW each
• Project at the client's sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district, Tamil Nadu with a total installed capacity of 225 MW
• Electricity generated from the project to be used for captive consumption and to power C&I customers
• A project of this size can provide electricity to ~1.85 lakh households and curb ~7.31 lakh tonnes of CO2 emissions per year

Suzlon Group has announced a new order win for the development of a 225 MW wind power project for Everrenew Energy Private Limited. Suzlon will install 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each at the client's sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district in Tamil Nadu.

This orderis for the company's largerrated 3 MW, S144-140m turbines from the 3 - 3.15 MW product series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and supervise the project, including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.

Girish Tanti, Vice Chairman, Suzlon Group said, "As India's renewable energy ambition sets benchmarks across the world, we are honoured to partner with companies across the value chain to further their renewable energy goals. India has one of the most conducive policy environments and a thriving ecosystem from R&D and manufacturing to operations and maintenance services. Combined with one of the lowest costs of energy in the world, these factors make Indian renewables stand out in the global market. This project with Everrenew Energy serves the promising C&I segment of the Indian market, which will be important in driving our national targets over time."

JP Chalasani, Chief Executive Officer, Suzlon Group, said, "Each repeat order is a matter of pride for us. Everrenew has been a cherished customer, and we are grateful that they have reaffirmed their faith in our comprehensive and proven product portfolio, customised for the Indian wind regime. The Power generated from this project will be used for captive needs as well as target the Commercial & Industrial (C&I) consumer segment, creating deeper penetration of renewable energy in India. Every Suzlon turbine is manufactured in the country through a thriving domestic value chain ecosystem which is a testament to our contribution to the vision of an Aatmanirbhar Bharat."

R. Venkatesh, Chief Executive Officer, Everrenew Energy Private Limited, said, "At Everrenew, we strongly believe in the transformative power of renewable energy. Our unwavering commitment lies in delivering sustainable solutions tailored to our customers' unique needs. Customer satisfaction is paramount to us, and our ability to execute projects swiftly is a testament to one of our key strengths. Partnering with Suzlon brings us great collaboration, and our repeat orders underscore our trust in their reliable technology and great track record in India. Also, Suzlon's dedication to the 'Aatmanirbhar Bharat' initiative is evident in their range of 'Made-in-India' products, aligning seamlessly with our guiding principles. Everrenew is dedicated to driving the adoption of renewable energy in the C&I segment and facilitating impactful energy transition journeys. Anticipate ground breaking renewable projects as we forge ahead into the future."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

About Everrenew Energy Private Limited

Everrenew is India's fast-growing renewable energy company, which provides a one-stop project management solution for wind, solar and hybrid projects with asset management. Our service includes Wind Resource assessment, Solar assessment, Site identification, permit & approval, land acquisition and development, civil, procurement & logistics, commissioning, and asset management. Everrenew is committed to providing renewable solutions with all-around capabilities that help organizations move progressively towards a sustainable future that is reliable, affordable & efficient. At Everrenew, safety is a way of life. We give utmost importance to the safety of our employees & contractors. Our key Business Verticals are Turnkey solutions for Wind, Solar, and hybrid projects, Asset management, Industrial Rooftops, Smart Energy Meters, and Solar water pumps. In 2023, we successfully commissioned 800+MW of Wind, Solar Projects, and hybrid projects across India & around 2700+ MW of wind, solar & Hybrid projects are under execution.

About The Suzlon Group

The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon's world-class manufacturing facilities are spread across 14 locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,000 employees.

Suzlon is also India's No. 1 wind energy service company with the largest service portfolio of over 14.3 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. The 3 MW Series wind turbine technology platform is the latest addition to its comprehensive product portfolio. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.

**Global installations of Suzlon manufactured wind turbine generators. Data as on 30th September 2023. 

MRF To Acquire Equity Stake in First Energy 8 for ~ ₹35.8 Cr

MRF, an Indian multinational tyre manufacturing company, will acquire upto 27.2% of equity stake in Pune-headquartered First Energy 8 Pvt Ltd, for about ₹35.87 crore, said media reports including BusinessLine.

Incorporated last year in August, First Energy 8 Pvt Ltd is a renewable energy startup company which is developing a wind power plant with a capacity of 47.4 MW in Tamil Nadu.

The time period for completion of the acquisition via cash consideration is Jan. 31.

The BusinessLine report said that, MRF, the largest manufacturer of tyres in India, has entered into a power purchase agreement with First Energy 8 for the purchase of wind power under the captive power policy.

As per the captive power policy, a captive users are required to own at least 26% in the captive generating plant. If the captive generating plant is established by an affiliate company, the captive user must hold no less than 51% of the ownership in that affiliate company.

In May 2023, MRF inked an agreement with First Energy 4 Pvt Ltd to purchase solar power, and at that time the renewable energy company was in the process of building a ground-mounted, grid solar electric generating facility at Ottapidaram, Tuticorin district in Tamil Nadu with a total installed capacity of 38.2 MW.