Serentica Renewables, backed by KKR, has agreed to acquire Statkraft’s solar assets in India. The portfolio included a 445 MW operational plant in Bikaner and 1 GW of development projects in Rajasthan. These projects are located in resource-rich states and were supplying power on a merchant basis. The assets are expected to serve Serentica’s commercial and industrial customers and offset 0.6 million tonnes of CO₂ annually. The acquisition has expanded Serentica’s operating portfolio to 1.5 GW, advancing its 17 GW goal by 2030. Statkraft said Serentica has the capacity to develop and manage the projects effectively. Standard Chartered Bank and Khaitan & Co were advisors to Serentica. Ernst & Young LLP and Cyril AmarchandMangaldas were advisors to Statkraft.