As India accelerates its transition to clean energy, Serentica Renewables and MRF Limited have joined forces to develop a major hybrid renewable energy facility. The 170-MW hybrid renewable energy facility will supply green power directly to MRF Limited, a tyre-making firm. The project will combine solar and wind energy and supply power to MRF’s manufacturing facilities nationwide via India’s interstate grid.
Captive power model with shared ownership
A dedicated entity has been formed, with MRF taking a 26 per cent stake, while Serentica retains the majority. This is consistent with India's captive power policy, which gives industrial players greater flexibility in terms of energy prices and carbon mitigation measures. The long-term Power Delivery Agreement (PDA) will create a reliable stream of renewable energy.
Akshay Hiranandani, CEO of Serentica Renewables, commented that the initiative reflects the company’s strategy to provide reliable clean energy to industries through integrated renewable and storage solutions.
MRF’s strategic Green Leap
This move follows MRF’s INR 990 million (USD 11.9 million) investment announced on 9 October 2025 to acquire a 26 per cent stake in Serentica Renewables India Private Limited. The tyre maker, India’s largest, is aiming to achieve net-zero Scope 1 and 2 emissions by FY2050 with an interim target of a 25 per cent emission intensity reduction by FY2028.
Currently, only 12 per cent of its energy comes from renewables. With this investment, MRF can secure stable energy costs for 20–25 years, reduce exposure to grid volatility, and enhance its green power portfolio.
Supporting India’s decarbonisation push
This partnership also fits within India’s net-zero 2070 roadmap. Large industrial consumers face growing pressure under Renewable Purchase Obligations (RPOs), making captive renewable projects a strategic necessity rather than a choice.
Competitive edge for the tyre industry
MRF’s decision echoes moves by other tyre giants. JK Tyre & Industries has joined RE100, meeting over 50 per cent of its energy needs from renewables. Bridgestone India has achieved carbon neutrality at its Pune plant.
By embedding renewable power in its operations, MRF gains cost stability, carbon reduction and a competitive advantage in an industry increasingly shaped by sustainability mandates.
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