Mahindra Group has revealed plans to create a hybrid renewable energy project combining solar and wind power, with a capacity of approximately 150 MW. The project is estimated to cost around Rs 12 billion. Mahindra Susten, a division of the Mahindra Group, will spearhead the project alongside strategic partner, Ontario Teachers’ Pension Plan Board, a renowned global investor. The installation will comprise approximately 101 MW and 52 MW of wind and solar capacity, respectively. It is anticipated to produce around 460 million kWh of power, contributing to an anticipated reduction of approximately 420,000 tonnes of carbon emissions.
The project represents Mahindra Susten’s entry into the hybrid renewable energy sector and will stand as one of the largest combined solar and wind projects in Maharashtra. Its aim is to provide clean energy to commercial and industrial clients. Incorporating over 80 per cent locally produced components, the project has been scheduled for commissioning within the upcoming two years.
As part of this initiative, Mahindra &Mahindra’s (M&M’s) auto and farm sectors have secured wind and solar capacity of approximately 41.20 MW and 25.90 MW, respectively. This allocation is projected to yield around 197 million kWh of energy annually, with an estimated reduction of about 184,000 tonnes of carbon emissions. The project aims to elevate M&M’s renewable energy contribution from 34 per cent in fiscal year (FY) 2023 to roughly 60 per cent by FY 2026.
