Mahindra Susten has achieved financial closure for its 150.80 MW hybrid renewable energy project in Maharashtra, marking another important step in the company’s efforts to expand clean energy generation in India. The project is being developed under a Group Captive off-take structure and is expected to contribute to the country’s growing renewable energy capacity.
Financial closure was achieved following the signing of a binding financing agreement with the Export-Import Bank of India (India Exim Bank) on August 10, 2026. Under the agreement, India Exim Bank will act as the sole lender for the project and provide the entire debt requirement of ₹875 crore through its Sustainable Finance Programme.
The project is being executed by Gelos Solren Pvt. Ltd., a subsidiary of Mahindra Susten. Securing the complete debt requirement from a single institutional lender represents a significant milestone for the company and reflects confidence in the project’s commercial viability, financial strength, and long-term potential.
The financing arrangement also highlights the growing role of institutional lenders in supporting large-scale renewable energy infrastructure in India. With renewable energy projects facing evolving regulations and changing market conditions, securing full project financing provides greater certainty for development and execution.
India Exim Bank’s participation further demonstrates its support for sustainable infrastructure and clean energy investments. The bank’s commitment is also expected to strengthen the financial foundation of the project as Mahindra Susten moves ahead with implementation.
For Mahindra Susten, the successful financial closure reinforces its position as an established renewable energy developer with experience in executing complex and large-scale projects. The company continues to expand its renewable energy portfolio as India accelerates its transition toward cleaner sources of electricity.
The 150.80 MW hybrid project adds to this broader effort by combining renewable generation with a structured commercial off-take model. With the full debt funding now secured, the project can progress with greater financial certainty, supporting Mahindra Susten’s objective of contributing to India’s long-term low-carbon energy transition.
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