New Delhi: Mahindra Susten on Monday said it will foray into the hybrid renewable energy segment by setting up a INR 1,200-crore 150-megawatt solar wind energy project in Maharashtra. The project includes installation of a 101 megawatt (MW) wind and 52 MW solar capacity, Mahindra Group said in a statement. The facility is expected to generate 460 million kilowatt-hour (kWh) of clean energy, offsetting 420,000 tonne of Co2 emissions.
Mahindra Group will develop a 150 MW hybrid RE (Renewable Energy solar + wind) project at a total project cost of about INR 1,200 crore, said Mahindra Susten, a part of Mahindra Group and a leader in renewable Independent Power Producer (IPP) business.
The project also marks Mahindra Susten's foray into the 'hybrid RE' segment and will be one of the largest co-located solar + wind hybrid projects in Maharashtra to deliver clean energy to commercial and Industrial (C&I) customers, the statement said.
The company aims to commission the project within the next two years. It will have more than 80% locally manufactured components, the company said.
Anish Shah, CEO & MD, Mahindra Group, said, "Energy transition is a key global and national priority to address climate change. This project is a tangible example of our commitment to sustainability, as a consumer of green power, and building 'Planet Positive' businesses, as the developer of the project."
Deepak Thakur, CEO & MD, Mahindra Susten, added, "We announce our foray into the hybrid RE space and deliver clean, green power at competitive rates to large C&I consumers. This project will showcase the immense potential of hybrid RE solutions in helping companies transition towards green operations."
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