Sterlite Copper to source hybrid renewable power from Serentica Renewables
As part of its sustainability efforts, Sterlite Copper, a subsidiary of Vedanta Limited, has joined hands with Serentica Renewables India Private Ltd (SRIPL) to establish a special purpose vehicle (SPV) for sourcing hybrid renewable energy.
A Power Delivery Agreement (PDA) has been signed as part of the deal to source 16 MW of hybrid renewable power for Sterlite’s Silvassa Unit.
The hybrid energy project will be constructed on a captive model and will operate on a build-own-operate basis. It is financed on a 70:30 debt-to-equity basis, with Sterlite Copper holding a 26 per cent equity share in the SPV.
