The latest renewable energy news includes announcement on Sumitomo, Hero Future Energies, Bondada’s Onix IPP, Serentica Renewables, and others.
Sumitomo Takes 49% of Hero Future Energies’ 500 MW Hybrid Project with 200 MWh BESS
Sumitomo Corporation has agreed to acquire 49 percent of Clean Solar Power (Baniyana), the project company developing Hero Future Energies’ approximately 500 MWp wind-solar hybrid project with 200 MWh of battery storage in Karnataka. Hero Solar Energy will retain 51 percent. The project is scheduled to begin commercial operations in March 2027 and will primarily supply SJVN under a 25-year power purchase agreement, with surplus electricity sold through the power market. The wind, solar and storage combination is designed to provide more stable output, particularly during morning and evening peak periods. The transaction expands Sumitomo’s renewable-energy investment platform in India.
Bondada’s Onix IPP Secures ₹911 Crore for 225 MW Maharashtra Solar Project
Bondada Engineering subsidiary Onix IPP has secured approximately ₹911.25 crore ($95 million) of financing from State Bank of India for development of a 225 MW solar project in Maharashtra. The sanctioned package comprises approximately ₹900 crore of term-loan facilities and ₹11.25 crore of non-fund-based facilities. The project has a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company and is being developed under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 programme. Bondada Engineering acquired a 60 percent controlling interest in Onix IPP in July 2026. The latest financing provides the project with long-term debt required to move through construction toward commercial operation.
Serentica Renewables Signs 80 MW Wind-Solar Deal with Vardhman Textiles Serentica Renewables has signed a Power Delivery Agreement with Vardhman Textiles to supply round-the-clock renewable energy and support the textile manufacturer’s decarbonisation goals. The 80 MW project comprises 40 MW of wind capacity in Gadag, Karnataka, and 40 MW of solar capacity in Fatehgarh, Rajasthan, with an expected capacity utilisation factor of about 75 percent. Serentica will supply 177 million units of renewable electricity annually to Vardhman Textiles’ facilities in Himachal Pradesh. Vardhman will acquire at least 26 percent equity in Serentica’s SPV, SRIPL 32. The agreement is expected to meet around 56 percent of Vardhman’s power requirements through green energy and help reduce its carbon footprint by approximately 125,883 metric tonnes, strengthening its long-term industrial decarbonisation strategy.
