SECI Signs PPA with Serentica Renewables for 600 MW FDRE Project
Mumbai, July 7, 2026: The Solar Energy Corporation of India (SECI) has signed a Power Purchase Agreement (PPA) with Serentica Renewables for a 600 MW (2400 MWh) allocation under SECI's FDRE VII Assured Peak tender. The agreement marks a major milestone in the implementation of the project. Serentica Renewables emerged as the largest successful bidder in the auction by securing the highest allocation among all participants.
The PPA establishes a long-term power purchase arrangement between SECI and Serentica Renewables. It also clears the way for the development of one of India's advanced Firm and Dispatchable Renewable Energy (FDRE) projects. The project is designed to supply renewable electricity during peak demand hours, helping improve grid reliability and ensure a stable power supply.
The FDRE VII tender, with a total capacity of 4,800 MWh, is one of India's most advanced renewable energy procurement programmes. Unlike conventional renewable energy projects, the Assured Peak model requires developers to supply electricity during non-solar hours. This approach helps meet the country's growing evening power demand while strengthening the national grid.
The project is expected to generate around 975 million units of renewable electricity every year. It is also estimated to reduce more than one million tonnes of carbon emissions annually, supporting India's clean energy and climate goals. With this project, Serentica Renewables' utility-scale renewable energy portfolio has grown to more than 8.7 GWp.
Commenting on the development, Akshay Hiranandani, CEO of Serentica Renewables, said the signing of the PPA marks an important step in moving the project from the bidding stage to execution. He said India's power sector is now focusing not only on adding renewable capacity but also on providing reliable and dispatchable clean energy. He added that combining renewable power with energy storage will help meet peak demand while improving grid stability.
The project further strengthens Serentica Renewables' contribution to India's energy transition by expanding the deployment of storage-backed renewable energy solutions. It also supports the country's growing demand for firm, flexible and reliable clean power while contributing to long-term energy security.