Automobile major Mahindra & Mahindra (M&M) will adopt a 58 MW captive solar plant that is expected to generate about 100 million units of power annually beginning 2022.
Accordingly, the plant is located in Parbhani district in the Marathwada region of Maharashtra. The solar plant will be built, owned, and operated for a period of 25 years by ReNew Sunlight Energy, which is a 100 per cent subsidiary of ReNew Power.
"This project is a big step from M&M towards the protection and revival of natural ecosystems. The project will quadruple M&M's renewable power share from 12 to 56 per cent across Maharashtra including Mumbai, Nashik, Pune, Igatpuri and Nagpur."
"With this project, M&M is set to make significant progress towards the achievement of carbon neutrality and 'Science Based Targets' by mitigating 79,000 tons of carbon emissions per year."
As per the company, this is equivalent to nurturing 3.7 million trees every year or the provision of a year's supply of power to about 20,650 Indian households.
Veejay Nakra, chief executive officer, automotive division at M&M said, "We are committed to achieving our target of carbon neutrality by 2040 and are well on way to reduce carbon emissions across our manufacturing operations."
"This new captive solar plant will further our sustainability journey and make a significant contribution in protecting the environment and contributing to Government of India's solar power target of achieving 175 GW by 2022".
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