BENGALURU: Tech-to-tractor conglomerate Mahindra Group will make investments 12 billion rupees (about $144 million) to arrange photo voltaic and wind vitality initiatives of 150 megawatt (MW) hybrid capability in India, it stated on Monday.
The initiatives will likely be developed by the group’s renewable vitality unit Mahindra Susten with Ontario Academics’ Pension Plan Board, considered one of Canada’s largest pension funds, as its strategic accomplice.
Mahindra & Mahindra may also purchase a 26% stake in its solar energy producing unit Gelos Solren for $4.8 million, taking the mixed funding to just about $150 million.
India, the world’s third-largest greenhouse fuel emitter, is at present attempting to spice up its non-fossil capability, together with photo voltaic and wind vitality, to 500 gigawatts (GW) by 2030 after lacking its goal to put in 175 GW of renewable capability by 2022.
The Mahindra Group goals to undertake 100% renewable vitality by 2030.
Wind energy was used for almost two-thirds of Mahindra & Mahindra’s energy wants, in response to its 2022-23 annual report.
The initiatives will likely be developed by the group’s renewable vitality unit Mahindra Susten with Ontario Academics’ Pension Plan Board, considered one of Canada’s largest pension funds, as its strategic accomplice.
Mahindra & Mahindra may also purchase a 26% stake in its solar energy producing unit Gelos Solren for $4.8 million, taking the mixed funding to just about $150 million.
India, the world’s third-largest greenhouse fuel emitter, is at present attempting to spice up its non-fossil capability, together with photo voltaic and wind vitality, to 500 gigawatts (GW) by 2030 after lacking its goal to put in 175 GW of renewable capability by 2022.
The Mahindra Group goals to undertake 100% renewable vitality by 2030.
Wind energy was used for almost two-thirds of Mahindra & Mahindra’s energy wants, in response to its 2022-23 annual report.
