Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Mahindra Susten and Mitsui to Co-invest in Distributed Solar Power Projects in India

Posted On: 2019-06-03 21:58:45

Mahindra Susten, a leading player in the Indian solar energy sector, has entered into a partnership with Mitsui & Co., Ltd 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 Private Limited ("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.

Basant Jain, Chief Executive Officer of Mahindra Susten said: "We are excited to partner with Mitsui on our path to becoming the most admired brand in sustainable infrastructure and renewable energy. This collaboration between two leading groups will help us target opportunities in the commercial and industrial sectors, which are going to play a key role in meeting India's ambitious renewable energy targets."

Kazumasa Nakai, Chief Operating Officer of Mitsui's Infrastructure Projects Business said: "We are delighted to partner with Mahindra Susten and contribute to India's shift to a low-carbon society. Utilizing Mitsui's global network, together we aim to expand the business to 150MW by 2023."

Marvel will be engaged in development of multiple grid connected and distributed projects. These projects will help the customers to reduce their carbon footprints and move towards green renewable energy.

Mahindra Susten is a leading player in the Indian solar energy sector, with 3.2 GWp of total portfolio, 1.5 GWp executed to date and over 1.7 GWp under execution, Mahindra Susten's services spans across turnkey solar EPC services, including both utility scale solar and rooftop solar. It also provides solar DG hybrid solutions, solar PV O&M and Analytics and energy management services.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.654.55 as compared to the previous close of Rs. 647.1. The total number of shares traded during the day was 22212084 in over 6107 trades.

The stock hit an intraday high of Rs. 658.65 and intraday low of 635.1. The net turnover during the day was Rs. 14393303814.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Brickwork reaffirms rating of Parsvnath Rail Land Project Pvt Ltd

Adani Green Energy Ltd arm receives LOAs for 600 MW hybrid projects

TCS Named 2018 Top Supplier of the year by QIAGEN

International Paper APPM Ltd announces annual outage from July 29, 2019 to Aug 28, 2019

Rajesh Exports bags new export order worth Rs. 942 crores from Germany, Europe

Indostar Capital Finance Limited and ICICI Bank Limited partner to finance Commercial Vehicles

BHEL successfully commissions Chhukha Unit-1 in Bhutan

Asian Oilfield Services receives orders of $37 mn

GAIL India Ltd fixes July 10, 2019 as record date for bonus issue

Blue Star Ltd receives single largest order from Mumbai Metro

Jubilant FoodWorks Ltd announces change in directorate

L&T Construction awarded contract for water supply and distribution in Sri Lanka

Polyplex Corporation Ltd's subsidiary to set up 60000 TPA BOPP film line project

JV Partners announce Final Investment Decision for initial two LNG train Project Development

Mahindra announces price increase for personal range of vehicles from July 1, 2019

Lawreshwar Polymers Ltd proposes name change

Thomas Cook India releases its Summer Report 2019

Asian Granito India Ltd inaugurates its largest - 25,000 sq feet tiles and Sanitaryware display showroom in Himmatnagar

ONGC Videsh Ltd, JV partners announce Final Investment Decision for initial two LNG train Project Development

Inspirisys Solutions Ltd to allot 56,25,000 shares to CAC Holdings Corporation at Rs. 54.30

HCL Technologies selected by Cricket Australia as Digital Technology Partner

Cognizant to acquire Zenith Technologies, a Leader in Life Sciences Manufacturing Technology Services

IndiGo awarded 'Best Low-Cost Airline in Central Asia/India' by Skytrax tenth year in a row

Chambal Fertilisers and Chemicals Limited updates on credit rating of Commercial Paper

NLC India Ltd commissions 100 MW solar PV power plant

RMG Alloy Steel Limited board approves issue of securities

Dabur India Ltd board to consider Q1 results on July 19, 2019

Sportking India Ltd updates on credit rating

Sundaram Multi Pap Ltd receives BB+ rating from Brickwork

Canara Bank to initiate process to sell stake in Can Fin Homes Ltd

Coromandel Engineering Company Limited to issue CNPRPS on private placement basis

Wintac Ltd board to re-initiate delisting process proposed by Veego Pharma LLC

Adlabs Entertainment Ltd announces resignation of Ms. Meghna Ghai Puri

TCS Named a Leader in Next-Gen Testing Services by NelsonHall

Trent Ltd to raise Rs. 950 crores from Tata Sons Pvt Ltd

Canara Bank to raise Rs. 6000 crores through equity issue

Infosys recognized as winner for 2019 Microsoft Global Alliance SI Partner of the Year

HCL Technologies celebrates 20 years of Innovation in Australia and New Zealand

WABAG secures One City One Operator contracts in Uttar Pradesh worth INR 1,477 Crore

Hexaware Ranks No. 1 Among the Top Service Providers in Overall Customer Satisfaction in Whitelane's IT Sourcing Study

KNR Srirangam Infra Pvt Ltd receives appointed date from NHAI

David Hennah quits Finastra to join Intellect Global Transaction Banking

V-Mart Retail Ltd opens two new stores in Bihar, Madhya Pradesh

Berger Paints India Ltd board to announce Q1 results on August 5, 2019

Saregama reinvents Carvaan with hundreds of Podcasts

KGI Bank Prepares for its Next Phase of Growth with TCS BaNCS

Capital Trust Ltd enters into business partnership agreement with IDFC Bank Ltd

CARE assigns rating to PNC Challakere Karnataka Highways Pvt Ltd

Omkar Speciality Chemicals Ltd reports Q4 FY19 results

Surya Roshni Ltd bags order for Rs. 151.88 crore







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019