Mahindra & Mahindra (M&M) is adopting 58 MWp captive solar plant that is expected to generate about 100 million units of power annually beginning 2022.
The project will quadruple M&M’s renewable power share from 12 % to 56 % across its facilities in Maharashtra, including Mumbai, Nashik, Pune, Igatpuri and Nagpur, the company said in a statement.
The solar plant, located at Parbhani district in the Marathwada region of Maharashtra, will be built, owned, and operated for a period of 25 years by ReNew Sunlight Energy Pvt Ltd, which is a 100 % subsidiary of ReNew Power Pvt Ltd, it added.
“This new captive solar plant will further our sustainability journey and make a significant contribution in protecting the environment and contributing to the government of India’s solar power target of achieving 175 GW by 2022.” said Veejay Nakra, CEO Automotive Division of M&M.
“Sustainability is a way of life and a key measure of M&M’s success. We are committed to achieving our target of carbon neutrality by 2040 and are well on the way to reduce carbon emissions across our manufacturing operations.” he added.
With this project, M&M said it is “set to make significant progress towards the achievement of carbon neutrality and Science Based Targets by mitigating 79,000 tons of carbon emissions per year”.
M&M had started using renewable energy with its first project of 0.06 MW at Igatpuri plant to mitigate carbon emissions across its manufacturing locations.