KKR-backed Serentica Renewables lands massive $1.19B despite project delays and debt refinancing

KKR-backed Serentica Renewables has raised about USD 1.19 billion in financing despite project delays and debt refinancing challenges. The package includes a USD 345 million multi-lender loan from ADB, SMBC, NDB and India Exim Bank, a USD 450 million refinancing arranged by Societe Generale and Clifford Capital, and a USD 397 million green term loan underwritten by MUFG. The company is also in talks with Standard Chartered for an additional USD 250 million, and has reached 8,700 MW of contracted renewable energy capacity with over 3,200 MW operational.