Mahindra Group recently unveiled its plans to invest Rs 1,200 crore in renewable energy in India, with a particular focus on a 150 MW hybrid renewable energy project merging solar and wind power. This significant step underscores the Group's dedication to operating businesses that have a positive impact on the planet and align with environmentally friendly practices. One of the pioneering companies to set the target of achieving 100% renewable energy by 2030 across its diverse business portfolio, Mahindra Group is taking concrete actions to fulfill this commitment by investing in sustainable energy projects.
The hybrid renewable energy project will be spearheaded by Mahindra Susten, a vital player in the renewable Independent Power Producer (IPP) sector and an integral part of Mahindra Group. It has also secured a strategic partnership with the global investor Ontario Teachers’ Pension Plan Board, demonstrating a strong collaboration to drive renewable energy initiatives forward. This move not only signifies the Group's proactive stance in embracing renewable energy but also showcases its strategic alliances with key stakeholders to propel sustainable development.
as a consumer of green power supporting sustainability goals and as a developer of the initiative contributing to building 'Planet Positive' businesses within the organization. By integrating over 80% domestically manufactured components and leveraging a robust domestic value chain, the project aims to bolster local manufacturing capabilities and solidify the Group's green portfolio in the renewable energy sector.