6 May 2024
Mahindra Susten, the Mahindra Group's renewable energy arm, is stepping on the gas pedal for clean energy!
Here's the lowdown on their ambitious plans:
₹21,000 Crore Green Bonanza:
Investment Blitz: Mahindra Susten is set to invest a whopping ₹21,000 crore over the next five years in renewable energy projects.
Building a Clean Energy Empire: This investment aims to create a massive 5.5 GW renewable energy asset portfolio.
Strategic Partnership:
Teaming Up for Success: Mahindra Susten has joined forces with Ontario Teachers' Pension Plan (39% stake) to build this impressive portfolio.
Sustainable Energy Infra Trust (SEIT):
Funding the Future: Launched in January 2024, SEIT is an infrastructure investment trust that will raise ₹1,365 crore as initial capital.
Growth Engine: SEIT will play a key role in facilitating Mahindra Susten's ₹21,000 crore growth plan.
Smart Financing Strategy:
Asset Flipping for Growth: Mahindra Susten will build and then sell (flip) renewable energy assets to generate funds for new projects.
Debt-Free Growth: This asset flipping strategy allows Mahindra Susten to avoid a heavy debt burden and focus on continuous growth.
Hybrid Power Play:
Beyond Solar & Wind: Mahindra Susten is venturing into hybrid renewable energy with a 150 MW solar-wind project in Maharashtra.
Clean Energy Champion: This project will generate 460 million kWh of clean energy and significantly reduce carbon emissions.
From EPC to Developer:
Shifting Gears: Mahindra Susten started as an EPC (engineering, procurement, construction) company for solar projects.
Building a Greener Future: In the last six years, the company has transformed into a leading developer, building over 1,540 MW of renewable energy projects.
Mahindra Susten's ₹21,000 crore investment signifies a major commitment to clean energy in India. Their innovative financing strategy and focus on hybrid power solutions position them as a frontrunner in the country's renewable energy revolution!