Serentica Renewables on Monday said it has signed a contract with the Greenko Group for providing 1,500-megawatt hour (MWh) of dedicated 6-hour energy storage capacity to provide round-the-clock (RTC) green energy solutions for its industrial customers.
As part of this contract, Serentica will leverage Greenko’s energy storage capabilities to utilise a cumulative 1,500 MWh capacity from its upcoming energy storage projects in Andhra Pradesh and Madhya Pradesh, the renewable power producer said.
“This landmark deal will augment Serentica’s efforts to deliver RTC, firm and dispatchable renewable energy (RE) to its industrial customers with an annual assurance of more than 95 per cent and a 15-min time-block assurance of more than 85 per cent,” it added.
“Long-duration energy storage is critical to decarbonising the country’s energy consumption and reducing greenhouse gas emissions. As we gear up to deliver RTC RE for our industrial customers, this unique energy storage capacity off-take contract with Greenko puts us on an accelerated trajectory in our mission to transition hard-to-abate, energy-intensive industries to clean energy and help reverse climate change,” Serentica Renewables Director Pratik Agarwal said.
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As the world transitions to a clean energy future, energy storage solutions will play a vital role in ensuring a reliable and sustainable power supply. These advanced storage solutions help industries to move away from captive thermal plants or other fossil fuel-based sources and rely on RE for 100 per cent of their electricity needs.