KKR, the global investment firm, is infusing $400 million (Rs 3,277 crore) into Serentica Renewables of the Vedanta group.
Serentica is an arm of Twinstar Overseas Ltd, which also owns controlling stakes in Sterlite Power Transmission Ltd and Sterlite Technologies Ltd. The company aims to provide renewable energy through a combination of solar, wind, energy storage and balancing solutions.
Several companies that include the Adani and the Reliance groups have announced big plans in clean energy. Overseas investors have also bought stakes in some of the renewable energy firms. In August this year, Tata Power Renewable Energy said it has raised around Rs 2,000 crore by issuing 8.36 crore equity to BlackRock-backed GreenForest New Energies Bidco.
