Mahindra Group, during its stock exchange filing on Monday, April 15, announced venturing into the renewable energy segment with an estimated investment of INR 1,200 Crore. The company’s renewable energy arm, Mahindra Susten, in partnership with the Ontario Teachers’ Pension Plan Board, plans to develop Maharashtra’s largest hybrid (solar+wind) project.
Mahindra Susten will install nearly 101 MW of wind capacity and 52 MW of solar capacity in the proposed project. It will be built using 80% locally manufactured components. Moreover, the unit is expected to generate approximately 460 Million kWh of energy, leading to an abatement of around 420,000 tonnes of CO2 emissions.
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The project is expected to be completed within a year. It will supply clean energy to commercial and industrial (C&I) customers. The initiative emphasizes sustainability and aims to boost Mahindra’s renewable energy share to over 60% by FY26. It will showcase the immense potential of hybrid RE solutions in helping companies transition towards green operations, said Deepak Thakur, CEO & MD, of Mahindra Susten.
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