Mahindra Susten secures 300 MW solar project at SJVN 1500 MW solar tender

In a stride towards renewable energy advancement, Mahindra Susten, a flagship Independent Power Producer (IPP), recently announced its triumphant bid for a solar project. This bid was secured through a competitive bidding process and e-reverse auction conducted by SJVN Limited, (‘SJVN’), a Renewable Energy Implementing Agency (REIA) of the Government of India.

The upcoming 25-year Power Purchase Agreement between SJVN and Furies Solren, a Special Purpose Vehicle (SPV) of Mahindra Susten, is poised to set new benchmarks in renewable energy execution. With a completion timeline of 24 months, this project promises to significantly bolster the renewable energy portfolio, further affirming Susten’s commitment to delivering sustainable energy solutions.

Mahindra Susten’s journey towards a greener future is marked by a portfolio development exceeding 1.54 GWp of renewable Independent Power Producer (IPP) projects across India. Its strategic collaboration as a co-sponsor of the Sustainable Energy Infra Trust (SEIT), India's largest renewable Infrastructure Investment Trust (InvIT), stands as a testament to its commitment to pioneering sustainable energy infrastructures.

Looking ahead

The fiscal year 2024 marks a pivotal moment for Mahindra Susten, with the acquisition of its fourth reverse auction renewable project win. This achievement not only augments Susten’s aggregated under-development capacity to over 1.3 GWp but also solidifies its position as a key contributor to India's decarbonisation efforts.

The renewable energy arm of the Mahindra Group, Mahindra Susten, is recognised as a leading IPP with a core focus on innovation and sustainability in the renewable energy sector. Susten’s comprehensive portfolio spans an impressive Engineering, Procurement, and Construction (EPC) experience, with over four GWp of capacity constructed, alongside a flourishing independent power producer business boasting in excess of 1.5 GWp of developed solar plants, complemented by over 1.3 GWp in the developmental pipeline across India's diverse states.