Serentica-Resonia plan Rs 1.2-lakh-cr capex

Serentica Renewables and Resonia plan to invest Rs 1.2 lakh crore as capex over the next four years, on the back of Rs 40, 000 crore already invested.

Key points

• We at present have 16 projects with an asset value of concerning Rs 45, 000 crore.
• The significant opportunity ahead is the Rs 1-1.5 lakh crore of transmission bidding pipeline.
• Our plan is to add approximately 4 GW every year.

Serentica intends to add 4 GW of renewable capacity annually and build a 6, 000-MWh battery portfolio while Resonia is targeting Rs 20, 000-40, 000 crore of new transmission orders. What is the immediate opportunity for Resonia?

For context, the significant opportunity ahead is the Rs 1-1.5 lakh crore of transmission bidding pipeline. The orders are projected to be awarded anytime starting next week. We expect to secure around 10-20% of this pipeline, depending on pricing and the margins. That would translate into Rs 20, 000-40, 000 crore of fresh project wins. We are deliberately targeting fewer, technically complex projects rather than chasing volumes.

We at present have 16 projects with an asset value of concerning Rs 45, 000 crore. While the remaining 60% is under construction, around 40% of this portfolio is operational or close to becoming operational. Serentica has crossed 3 GW. What is the new expansion run-rate?

Our plan is to add approximately 4 GW every year. At that pace, we should comfortably exceed the earlier target of 17 GW by 2030. Serentica has already signed contracts for around 9 GW of renewable capacity, representing investments of approximately Rs 50, 000 crore. We intend to remain focused on developing and supplying renewable power rather than entering solar-module or battery manufacturing. How sizeable a business will battery storage be for Serentica?

Taken together, the developments around serentica-Resonia plan Rs 1.2-lakh point to a situation that is still moving, and the coming days should bring more clarity.