Mahindra Group's renewable energy arm aims to become a $1 billion entity in next two to three years with one gigawatt (GW) of owned solar energy capacity along with another 3 GW of third party projects. Mahindra Susten, which expects to have 350 MW of EPC installations by the end of the year is looking to scale up its own solar energy capacity from the current level of 80 MW.
The company, which is a portfolio of Mahindra Partners, the private equity arm of the Group, is looking at consolidating its solar energy base in states like Gujarat, Rajasthan, Andhra Pradesh, Telangana and Madhya Pradesh. "We started off by winning a project of 5 MW and in last three to four years we have progressed. Our expectation is to have 350 MW of EPC and another 80 MW of our own assets by the end of the year," Mahindra Partners Managing Partner Parag Shah told news agency.
Elaborating on the road ahead, he said: "We are now looking at owning assets on our own and to have a total of 1 GW capacity in next two to three years," he added.