Mahindra & Mahindra signs solar PPA with ReNew Sunlight 


Mahindra & Mahindra has signed an agreement with ReNew Sunlight Energy, a step-down arm of Renew Power, to purchase power from its 58 MW solar plant under open access. 

Mahindra & Mahindra also signed the agreement to raise a 31.2% equity stake in ReNew Sunlight Energy, which will allow ReNew Sunlight Energy as a captive generator to supply solar power to Mahindra & Mahindra. The acquisition, priced at INR 16.07 crore, is expected to complete by December 31 this year.

ReNew Sunlight Energy was incorporated on December 15, 2020, to set up a solar park and generate solar power. It will build, own and operate the 58 MWp captive solar power plant to generate around 100 million units a year and feed it into the MSEDCL grid. 

Mahindra & Mahindra’s manufacturing plants will consume this solar power under the company’s open access arrangement with the electricity distribution companies.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: