Mahindra Susten has taken a leadership position in propelling the energy sector into a more sustainable future while growing 8x times over the past six years. Sustain aims to create a sustainable ecosystem for all stakeholders and the environment.
Mahindra Susten, the ‘cleantech’ arm of the Mahindra Group, offers diversified services within the renewables space. Susten has been supplying green energy to the nation since 2010. In the last decade, the company has developed power projects with generation capacities of over 4.2 GWp, including the installation of Independent Power Producer (IPP) projects generating 1.55GWp+ across India.
“Our in-house EPC capabilities, honed across renewable energy projects executed globally, ensure Mahindra Susten engineers and delivers superior performing assets, thereby enabling our energy platform to provide clean, reliable power to millions of people across India,” Deepak Thakur, MD & CEO, Mahindra Susten.
Despite the fact that India receives a lot of sunlight, the potential of solar energy has been underutilised for a long time. That, however, changed a few decades ago, when demand for more power outstripped supply (or power generation capacity) from conventional sources.
Thus, the government rolled out policies to ensure the optimum utilisation of natural resources to generate more power —and that spurred the growth of India’s solar power portfolio.
The abundance of investible funds in the market for energy transformation
The company’s IPP solar portfolio is spread across five key states in India and is backed by long-term power purchase agreements – approximately 75% of assets are backed by central government entities and the remaining by distribution companies backed by state governments.
Besides its own in-house management team with extensive capabilities across both Engineering, Procurement, and Construction (EPC) and IPP domains, Susten also benefits from the solar plant operations and maintenance services and other technical expertise of Mahindra Teqo Private Limited.