Statkraft announced its intention to exit the Indian market last year as part of a strategy to concentrate investments in European and South American markets. “This acquisition accelerates Serentica’s journey in becoming a leading contributor to India’s renewable energy transition. Over the past two decades, Statkraft has built a diversified renewable portfolio across solar, wind, hydro, and power trading in multiple states. Meanwhile, Serentica Renewables has achieved 1GW of renewable energy capacity across multiple Indian states, integrating solar, wind, and energy storage. Recently, Serentica secured financing for a 530MW round-the-clock hybrid project in India.