Simpson Thacher is representing KKR in its $400 million investment in Serentica Renewables (“Serentica”), a decarbonization platform that seeks to enable energy transition by providing complex clean energy solutions for energy-intensive, hard-to-abate industries.~~Serentica looks to deliver round-the-clock clean energy solutions for large-scale, energy-intensive industrial customers. This includes providing renewable energy solutions through long-term Power Purchase Agreements (“PPAs”) and working closely with customers to design their paths to net-zero electricity. Currently, Serentica has entered into three long-term PPAs and is in the process of developing ~1,500 MW of solar and wind power projects across various states including Karnataka, Rajasthan and Maharashtra. Serentica’s medium term goal is to install 5,000 MW of carbon-free generation capacity coupled with different storage technologies and supply over 16 billion units of clean energy annually and displace 20 million tonnes of CO2 emissions.~~KKR makes its investment from its Asia Pacific Infrastructure strategy. The transaction is subject to customary closing conditions.

The Simpson Thacher team includes Ian Ho and Erik Wang (M&A).