The Mahindra Group's arm will foray into the hybrid renewable energy segment with an investment of Rs 1,200 for solar and wind projects in Maharashtra. Mahindra Susten, its renewable energy platform, will develop the project along with Ontario Teachers' Pension Plan Board, as its strategic partner.

The project comprises installation of 101 MW wind capacity and 52 MW solar capacity. The project will be one of the largest co-located solar plus wind hybrid projects in Maharashtra to deliver clean energy to commercial and industrial (C&I) customers. The company expects to commission the plant in the next two years, built using 80 percent locally manufactured components.

The unit is expected to generate around 460 million kWh of energy, leading to mitigationof around 4,20,000 tonne of CO2 emissions. This project will showcase the potential of hybrid RE solutions in helping companies transition towards green operations,as energy transition is a key national priority to address climate change.

This project is an example of commitment to sustainability, and building 'Planet Positive' businesses, as the developer of the project.