Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
Mahindra Group plans to invest ₹12 billion in India to build 150 MW of hybrid solar and wind energy plants. Mahindra Susten, the group's renewable energy unit, will develop the projects, with the Ontario Teachers' Pension Plan Board, one of Canada's largest pension funds, serving as a strategic partner.
Mahindra & Mahindra, opens new tab, will also pay $4.8 million for a 26% interest in its solar power-generating subsidiary, Gelos Solren, bringing the total investment to roughly $150 million.
India is currently attempting to increase its non-fossil capacity, including solar and wind energy, to 500 GW by 2030 after failing to meet its objective of 175 GW of renewable power by 2022.
The Mahindra Group aims to adopt 100% renewable energy by 2030. Wind power was used for nearly two-thirds of Mahindra & Mahindra's power needs, according to its 2022-23 annual report.
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