India, Oct. 13 -- Serentica Renewables has announced plans to develop a 170 MW solar-wind hybrid project to supply captive renewable power to tyre manufacturer MRF Ltd.
A special purpose vehicle (SPV) has been formed for the project, with MRF holding a minority captive stake and the remaining ownership retained by Serentica, the company said in a statement.
Serentica has also signed a long-term Power Purchase Agreement (PPA) with MRF under the captive power framework, aimed at ensuring sustainable, reliable clean energy supply for the company's operations.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....