M&M plans a Rs 1200 crore RE project

(20 second reading) The Mahindra Group will foray into the hybrid renewable energy segment with an investment of Rs 1,200 in a solar and wind project.

Mahindra Susten, its renewable energy platform, will develop the project along with Ontario Teachers’ Pension Plan Board as a strategic partner. As a part of this project, the group will install ˜101 MW wind capacity and ˜52 MW solar capacity.The project 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, it said.

The company expects to commission the plant in the next years, built using 80 per cent locally manufactured components.