Mahindra Group has revealed plans to embark on the development of a 150-MW hybrid renewable energy (RE) project, integrating both solar and wind power. The venture, valued at approximately Rs 1,200 crore, will be spearheaded by Mahindra Susten, a division of Mahindra Group. Notably, the project will see the Ontario Teachers’ Pension Plan Board, a prominent global investor, stepping in as a strategic partner.

The initiative will comprise a 101-MW wind capacity and a 52-MW solar capacity, with projections estimating an annual generation of 460 million kWh of energy. This substantial output is anticipated to lead to a significant abatement of 420,000 tonnes of CO2 emissions.

Anish Shah, CEO and MD of Mahindra Group, emphasized the project's significance in aligning with global and national priorities concerning energy transition and climate change. He sees it as a pivotal milestone in the group's ongoing efforts to invest in and expand its sustainable portfolio.

Deepak Thakur, CEO and MD of Mahindra Susten, highlighted the project's potential in showcasing the efficacy of hybrid RE solutions in facilitating companies' transition towards sustainable operations.