Mahindra Group to Develop 150 MW Hybrid Renewable Energy Project in Maharashtra

Mahindra Group, a pioneer in sustainable business practices in India, has announced plans to develop a 150 MW hybrid renewable energy (RE) project in Maharashtra. The initiative underscores the company’s commitment to operating ‘Planet Positive’ businesses and transitioning to 100% renewable energy by 2030.

The project, with an estimated cost of approximately Rs 1,200 crore, will be executed by Mahindra Susten, a leading renewable Independent Power Producer (IPP) within the Mahindra Group. Notably, the Ontario Teachers’ Pension Plan Board will serve as a strategic partner for the venture.

Comprising 101 MW of wind capacity and 52 MW of solar capacity, the project is expected to generate around 460 million kWh of energy, resulting in the abatement of approximately 420,000 tonnes of CO2 emissions. It marks Mahindra Susten’s entry into the hybrid RE segment and will be among the largest co-located solar + wind projects in Maharashtra.

Dr. Anish Shah, CEO & MD of Mahindra Group, emphasized the project’s significance in addressing climate change and advancing sustainability goals. He highlighted the project’s alignment with the vision of ‘Aatmanirbhar Bharat’ by promoting local manufacturing and contributing to a robust domestic value chain.

Deepak Thakur, CEO & MD of Mahindra Susten, expressed enthusiasm for the project’s potential to deliver clean energy to commercial and industrial customers while showcasing the benefits of hybrid RE solutions.

Furthermore, Mahindra Group’s Auto & Farm businesses have secured capacity within the project, contributing to an annual generation of 197 million kWh of energy and an abatement of 184,000 tonnes of CO2 emissions. This move aligns with Mahindra’s efforts to increase its renewable energy share from 34% in FY23 to around 60% in FY26.

Veejay Nakra, President of Mahindra’s Automotive Division, emphasized the importance of reducing operational emissions as the company expands its green portfolio, particularly with the upcoming launch of multiple electric vehicles (EVs).

The project signifies Mahindra Group’s continued investment in sustainable initiatives and underscores its commitment to integrating sustainability with business strategy.