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Mahindra Susten Secures INR 875 Cr Financing for 150.80 MW Group Captive Hybrid RE Project

Mahindra Susten has achieved financial closure for its 150.80 MW group captive hybrid renewable energy project in Maharashtra with INR 875 crore in debt financing from India Exim Bank.

August 19, 2026. By Mrinmoy Dey

Mahindra Susten has announced that the company has achieved financial closure for its 150.80 MW hybrid renewable energy project in Maharashtra, being developed under a group captive off-take arrangement, following the execution of a binding financing agreement with the Export-Import Bank of India (India Exim Bank).

Under the financing agreement, India Exim Bank will act as the sole lender and provide the project’s entire debt requirement of INR 875 crore through its Sustainable Finance Programme, stated Mahindra Susten.

The project is being developed by Gelos Solren, a subsidiary of Mahindra Susten. The full debt financing from a single institutional lender marks a significant milestone for the project amid evolving market conditions and regulatory requirements in India’s renewable energy sector.

“Securing the complete debt requirement from a single institutional lender is especially noteworthy given the evolving market conditions and regulatory requirements in the renewable energy sector. India Exim Bank’s commitment to the entire INR 875 crore debt facility reflects its confidence in the investment and in Mahindra Susten’s development and execution capabilities,” the company stated.

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Investment & Trading

Mahindra Susten

Export-Import Bank of India

India Exim Bank

RE project financing

Group captive RE projects in Maharashtra

Gelos solren

RE project financial closure