Mahindra Group, a leading Indian conglomerate, has announced that the company plans to develop a 150 MW hybrid solar and wind power project in Maharashtra, with a total investment of ₹1,200 crore.

This project marks a major step forward for Mahindra Susten, a subsidiary of the Mahindra Group focused on renewable energy solutions. Mahindra Susten will lead the project’s development, partnering with global investor Ontario Teachers’ Pension Plan Board as a strategic partner.

Key Highlights of the project

Hybrid Power Generation: The project will combine 101 MW of wind capacity with 52 MW of solar capacity, creating a hybrid renewable energy source.
Clean Energy Generation: The project is expected to generate a substantial 460 million kWh of clean energy annually, contributing to a reduction of approximately 420,000 tonnes of CO2 emissions.
Local Manufacturing Focus: The project will prioritize using locally manufactured components, with over 80% sourced domestically.
Project Timeline: Construction is expected to be completed within the next two years.

Driving Sustainability and Green Growth

Commenting on the project, Anish Shah, CEO & MD of Mahindra Group, highlighted the project’s dual roles such as addressing climate change through clean energy generation and showcasing a viable economic model for green businesses. “This initiative aligns with Mahindra Group’s broader goal of adopting 100% renewable energy by 2030,” he said.

Deepak Thakur, CEO & MD of Mahindra Susten, expressed the company’s enthusiasm for entering the hybrid renewable energy space. He said this project demonstrates the potential for hybrid solutions to help businesses transition towards eco-friendly operations.

The Mahindra Group has set an ambitious target of transitioning entirely to renewable energy sources by 2030. This 150 MW hybrid project represents a significant step towards achieving their long-term sustainability goals.

India, currently the world’s third-largest emitter of greenhouse gasses, is actively working to increase its non-fossil fuel energy capacity. The government aims to achieve 500 gigawatts (GW) of renewable energy capacity by 2030.

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