Mahindra Susten, the renewable energy arm of Mahindra Group, is charting an ambitious course towards a greener, more sustainable future. With a visionary investment plan totaling a staggering Rs 21,000 crore over the next five years, the company is poised to become a formidable force in the renewable energy landscape.
Teaming up with Ontario Teachers’ Pension Plan, Mahindra Susten is committed to harnessing the power of renewable resources, with a strategic focus on developing a robust portfolio of approximately 5.5 GW of renewable energy assets. These ventures will encompass a diverse array of projects, including storage initiatives and groundbreaking round-the-clock power projects, promising to revolutionise the way we think about energy generation and consumption.
In a groundbreaking move earlier this year, Mahindra Group and Ontario Teachers joined forces to spearhead an innovative infrastructure investment trust named Sustainable Energy Infra Trust (SEIT). This forward-looking initiative has already raised a substantial primary capital of Rs 1,365 crore through its initial offering of units, laying a solid foundation for future growth and expansion.
Underscoring their commitment to innovation and diversification, Mahindra Susten recently ventured into the burgeoning hybrid renewable energy segment. Their latest endeavour involves the establishment of a cutting-edge Rs 1,200 crore solar wind energy project in Maharashtra. Boasting a combined capacity of 150 MW, comprising 101 MW of wind power and 52 MW of solar capacity, this pioneering facility is poised to unleash a tidal wave of clean energy, with the potential to offset a staggering 420,000 ton of carbon dioxide emissions.
With an illustrious track record in the engineering, procurement, and construction (EPC) domain, Mahindra Susten has already left an indelible mark on the renewable energy landscape. Having successfully constructed over 1,540 megawatts peak (MWp) of solar projects for various developers, the company is well-positioned to lead the charge towards a brighter, more sustainable tomorrow.