India : Mahindra Susten and Mitsui to co-invest in distributed solar power projects in India

Mahindra Susten, a leading player in the Indian solar energy sector, has entered into a partnership with Mitsui & Co., of Japan to jointly develop and operate distributed solar power generation projects in India.Mahindra Susten will continue to hold 51% stake in Marvel Solren (Marvel), with Mitsui holding the balance equity.

Marvel currently operates four distributed solar projects in India with a combined capacity of 16MW that help private clients reduce their carbon footprint by providing renewable energy through long-term power purchase agreements of 10-25 years.

Compared to power generated through an average Indian coal-fired power plant, the four projects can collectively reduce CO2 emissions by about 20,000 tons per year and will contribute to the Indian government's renewable energy targets.

 

Source : https://www.business-standard.com/article/news-cm/mahindra-susten-and-mitsui-to-co-invest-in-distributed-solar-power-projects-in-india-119060301277_1.html

Smart Grid Bulletin August 2019


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