Mahindra Susten secures 300 MW Project in NTPC 1500 MW Solar tender
In Short – Mahindra Susten clinches a 300 MW project in NTPC’s 1500 MW solar tender, showcasing its commitment to renewable energy expansion. This success underscores Mahindra’s role in fostering sustainable energy solutions and driving solar power adoption.
Tender / Tranche : NTPC 1500 MW Solar
Project Capacity Won by Susten : 300 MW
Tariff Quoted : 2.59
Off taker : NTPC Limited
As a testament to this groundbreaking project, NTPC is set to formalize a 25-year Power Purchase Agreement with Furies Solren Private Limited, a Special Purpose Vehicle (SPV) of Mahindra Susten, with completion timeline of 24 months. This win marks Mahindra Susten’s 5th successful bid this fiscal year, bringing its aggregated under development capacity to over 2 GWp. It solidifies the company’s position as a key contributor to India’s decarbonization efforts and underscores its dedication to its core purpose of “Re-imagining clean energy & Empowering lives.”
Deepak Thakur, MD & CEO of Mahindra Susten, said, ” In this fiscal year, Mahindra Susten has been able to consistently deliver on its core purpose with several strategic achievements. Our latest project win not only underscores our commitment to powering ‘Atmanirbhar Bharat’ with clean, sustainable energy, but also marks another significant milestone in our growth journey. We are enthusiastic about the opportunities ahead as we expand our portfolio and continue to contribute to a sustainable future”
About Mahindra Susten
Mahindra Susten is Mahindra Group’s renewable energy platform, recognized as a leading IPP with a core focus on innovation and sustainability in the renewable energy sector. Our comprehensive portfolio spans an impressive Engineering, Procurement, and Construction (EPC) capacity of over 4 GWp, an independent power producer (IPP) business with around >1.54 GWp of developed solar plants, and >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). Mahindra Susten plans to have a significant renewable IPP development pipeline, aimed at revolutionizing the energy landscape.
