Mahindra Susten, a clean-tech arm of the Mahindra Group, announced that its subsidiary Martial Solren has obtained a ₹1,448 crore term loan to finance solar PV projects in Gujarat and Rajasthan. The projects, with a capacity of 560 MWp, are being developed under long-term Power Purchase Agreements (PPAs) with major clients.
The loan agreement was finalized with HDFC Bank and Axis Bank, supporting Mahindra Susten’s push toward renewable energy growth. According to Deepak Thakur, Managing Director & CEO of Mahindra Susten, achieving financial closure for these projects marks a key milestone in advancing clean energy goals.
Once operational, the projects are expected to generate around 9 lakh MWh of solar power annually, offsetting approximately 8.19 lakh tonnes of CO2 emissions. This clean energy will be sufficient to meet the needs of about 1.8 lakh households each year.
Commenting on the collaboration, Rakesh Singh of HDFC Bank highlighted the importance of backing climate-conscious solutions, while Rajiv Anand of Axis Bank reaffirmed their commitment to India’s renewable energy transformation and sustainability initiatives.
Mahindra Susten, a part of the Mahindra Group, is a leading player in India’s renewable energy sector, specializing in solar energy solutions and sustainable infrastructure development. The company offers a wide array of services, including engineering, procurement, and construction (EPC) for utility-scale solar projects, rooftop solar installations, and solar asset management.
With a commitment to innovation and sustainability, Mahindra Susten integrates advanced technologies such as AI-driven energy management and solar analytics to enhance efficiency and optimize performance. The company has successfully commissioned over 4 GW of solar projects globally, making significant contributions to India’s renewable energy targets and the global transition toward clean energy. Through initiatives like green hydrogen and hybrid energy solutions, Mahindra Susten continues to expand its portfolio, reinforcing its position as a key enabler of sustainable growth.
