Mahindra Powers Up: 150 MW Hybrid Deal Fuels Green Leap

Mahindra & Mahindra has signed an agreement to source 150 MW of renewable energy from Gelos’ hybrid project in Maharashtra.

The project combines 100.8 MW of wind capacity with 50 MW of solar power, supporting Mahindra’s sustainability goals and helping reduce its carbon footprint. Energy will be supplied from Gelos’ hybrid plant, which integrates advanced renewable technologies to optimise efficiency. “We are excited to strengthen our clean energy portfolio with this hybrid project, aligning with our commitment to sustainable growth,” a Mahindra spokesperson said.

As part of the deal, Mahindra will acquire a 26 percent stake in Gelos Solren—a Mahindra Susten subsidiary—for ₹371.43 million. The transaction is expected to be completed by 30 April 2026, after which Mahindra Susten will retain a 74 percent share. The ₹12 billion hybrid project, developed in partnership with the Ontario Teachers’ Pension Plan Board, will use 80 percent locally sourced components. Mahindra Susten has an extensive renewable energy track record, with over 1.5 GW of operational assets and 4.2 GW currently under construction worldwide.

News by Rahul Yelligetti.