The Norwegian energy company Statkraft has signed an agreement to sell part of its Indian renewable energy portfolio to India’s Serentica Renewables. The deal includes approximately 1.5 GWp of assets in the state of Rajasthan (northern India), comprising the recently commissioned 445 MWp Khidrat solar plant and a pipeline of solar and wind projects totalling around 1 GWp, currently at various development stages. The transaction is subject to standard conditions precedent and regulatory approvals. In 2024, Statkraft had announced plans to exit the Indian market to refocus its investments on Europe and South America.
Statkraft, active in India since 2004 through its joint venture SN Power, has developed a diversified renewable portfolio across hydro, solar, wind, and power trading. Meanwhile, Serentica Renewables, supported by US$650m from the US-based investment firm KKR, has reached 1 GW of capacity, combining solar, wind, and storage across several Indian states.
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