This two-day conclave brought together a diverse range of stakeholders committed to accelerating India's transition towards a renewable energy future.

Today, July 10, the world celebrates Global Energy Independence Day, emphasising the urgent need to transition from fossil fuels to sustainable energy sources. This day, originally proclaimed in Los Angeles in 2005 to honour Nikola Tesla's birthday, serves as a reminder of the importance of energy security and the critical role Renewable Energy (RE) plays in mitigating climate change.

The Group's commitment to RE

Mahindra Group recently co-hosted the Climate Group-led RE100 India Conclave at Mahindra Towers, Worli. The conclave brought to focus, Mahindra’s long-term commitment to achieving 100% renewable energy by 2030.

Advancing RE solutions

Renewable energy sources such as solar, wind, hydro and geothermal, which are environmentally friendly and have a lower impact, have gained substantial attention in recent years as viable and sustainable alternatives to traditional fossil fuels.  While the adoption of renewables can contribute to reduced CO2 emissions, decarbonising the industrial sector poses a significant challenge.

Three of our Group subsidiaries, Susten, Teqo, and Solarize, are actively helping decarbonise the industry through renewable energy with their extensive EPC, OEM, and asset management portfolio. Additionally, Mahindra Holidays & Resorts Ltd. is also a formal signatory of the RE100 campaign by the Climate Group. We are committed to getting as close to renewable energy as possible in our operations by continuing to work with relevant stakeholders to advance on this journey.

Collaborative discussions and strategic alignments

The RE100 India Conclave served as a vital platform for knowledge sharing and collaboration among RE100 member companies, renewable electricity developers, service providers, and industry experts. Participants discussed India's ambitious goal of achieving 500 GW of installed renewable energy capacity by 2030. The event aligned corporate strategies with these national objectives and fostered discussions on innovative solutions to increase reliance on renewable energy sources.

Addressing challenges

As of May 2024, renewable energy sources, including large hydropower, reached a combined installed capacity of nearly 194 GW, raising their impact on the national grid. One of the challenges from this will be difficulty in forecasting and planning for RE procurement. The Conclave addressed this challenge as participants discussed the emerging landscape of intra-state and inter-state RE procurement, and alternative RE instruments.

A sustainable future for India

Looking ahead, continued collaboration among industry leaders, policymakers, and innovators will be critical to overcoming challenges and ensuring a smooth transition towards a renewable energy future for India. As Mahindra and its subsidiaries continue to champion renewable energy, they set a benchmark for other businesses, driving India closer to its clean energy targets and creating a sustainable future for all.