Mahindra Susten Ventures into The Hybrid Project – Solar + Wind
Mahindra Group, a pioneer in sustainability initiatives, announces its entry into the hybrid renewable energy sector with a groundbreaking project. Committed to achieving 100% renewable energy usage by 2030, the conglomerate is set to invest ₹1200 Crore in establishing a 150 MW hybrid renewable energy project.
This ambitious venture by Mahindra Susten, a prominent player in the renewable Independent Power Producer (IPP) sector, will combine approximately 101 MW of wind capacity with 52 MW of solar capacity. The project aims to generate 460 million kWh of clean energy annually, effectively reducing CO2 emissions by approximately 420,000 tonnes.
Pioneering Sustainable Solutions
Mahindra Susten’s foray into the hybrid renewable energy segment marks a significant milestone. It exemplifies the company’s commitment to delivering clean energy solutions to commercial and industrial consumers (C&I). Moreover, the project underscores Mahindra Group’s dedication to fostering ‘Aatmanirbhar Bharat’ by utilizing over 80% locally manufactured components.
Leadership Perspectives
Dr. Anish Shah, CEO & MD of Mahindra Group, emphasizes the importance of energy transition in combating climate change. He views this project as a testament to Mahindra’s sustainable business practices and contribution to the green energy landscape.
Deepak Thakur, CEO & MD of Mahindra Susten, highlights the project’s potential to provide competitively priced green power to large C&I consumers. He sees it as a step forward in promoting hybrid renewable energy solutions.
Driving Economic and Environmental Impact
The project’s impact extends beyond environmental benefits. Mahindra’s Auto & Farm businesses are poised to benefit from the project, with a contracted capacity of 41.20 MW of Wind and 25.90 MW of solar. This move is expected to significantly increase Mahindra’s renewable energy share from 34% in FY23 to approximately 60% by FY26.
Integrating Sustainability with Business Strategy
Veejay Nakra, President of Mahindra’s Automotive Division, sees the project as integral to the company’s transition towards a greener portfolio, especially with the impending launch of multiple Electric Vehicles (EVs). For Mahindra, sustainability is an environmental imperative and a strategic business decision.
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