Mahindra Susten secures 300 MW project in NTPC 1.5 GW solar tender


Mahindra Group’s renewable energy platform Mahindra Susten has won a 300 MW solar project in NTPC’s 1.5 GW solar auction. It won the capacity by quoting the lowest tariff bid of INR 2.59 ($0.031)/kWh.

NTPC will sign a 25-year power purchase agreement with Furies Solren, a special purpose vehicle (SPV) of Mahindra Susten. The project is set for completion within 24 months.

This win marks Mahindra Susten’s fifth successful bid this fiscal year, bringing its aggregated under development capacity to over 2 GWp.

The company’s comprehensive portfolio spans an engineering, procurement, and construction (EPC) capacity of over 4 GWp, an independent power producer (IPP) business with more than 1.54 GWp of developed solar plants, and more than 1.96 GWp of renewable power plants in the development pipeline spread across several states in India. Mahindra Susten is also a cosponsor of the Sustainable Energy Infra Trust (SEIT), India’s largest renewable Infrastructure Investment Trust (InvIT).

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