Serentica Renewables Inks 32-Mw Power Purchase Pact With Sanathan Polycot

Serentica Renewables on Wednesday said that it has secured the first textile sector deal by signing a 32-MW renewable power purchase agreement (PPA) with Sanathan Polycot, an arm of Sanathan Textiles.

As part of the agreement, a Special Purpose Vehicle (SPV) has been established to deliver 32 MW of hybrid, round-the-clock renewable energy, a company statement said.

Sanathan will hold a 26% stake in the SPV, while Serentica Renewables will own the remaining stake.

The project will be developed to supply clean and reliable power to Sanathan Polycot's manufacturing facility in Punjab, ensuring uninterrupted operations while advancing its sustainability agenda.

According to the statement, Serentica Renewables has signed a long-term Power Purchase Agreement with Sanathan Polycot Private Limited (SPPL), a wholly-owned subsidiary of Sanathan Textiles Limited, a diversified yarn manufacturer having operations across polyester filament yarns, cotton yarns and yarns for technical textiles.

This partnership enables Sanathan Polycot to secure dependable and cost-efficient green power, reduce emissions intensity of its operations, and gain long-term visibility on energy costs, supporting its broader sustainability ambitions.

Akshay Hiranandani, CEO, Serentica Renewables, said in the statement, "This partnership marks an important milestone as we extend our decarbonisation solutions to the textile sector, which is an integral pillar of India's manufacturing economy with evolving energy needs and sustainability priorities."