Mahindra Susten partners with Mitsui & Co. Ltd for solar power generation

Mahindra Susten, the private equity division of Mahindra Group, has partnered with Mitsui & Co. Ltd, of Japan. The aim is to jointly develop and operate distributed solar power generationprojects in India. 
Mahindra Susten will hold 51% stake in Marvel Solren Private Ltd. with Mitsui holding the rest 49%. It is expected that the collaboration between the two groups would help in targeting India’s industrial and commercial sectors.
Marvel currently operates four solar power projects in the country with a combined capacity of 16 megawatts. The company helps its clients reduce their carbon footprint through long-term purchase agreements that run between 10 to 25 years. Utilizing Mitsui’s global network, the company aim to expand the business to 150 megawatts by 2023.

Mahindra Susten:
Founded on: 2010
Headquarters: Maharashtra, India
Parent: Mahindra & Mahindra Limited
It is a portfolio company of Mahindra Partners, the private equity division of the Mahindra Group. It provides services within the renewable energy segment such as site surveys and feasibility reports to unit maintenance. 
The company also provides advisory services pertaining to aspects such as financing, financial benefits, and regulatory approvals.

Mitsui & Co.:
Founded on: July 25, 1947
Headquarters: Tokyo, Japan
Founder: Takashi Masuda, Tatsuzo Minakami
Chairman: Masami Iijima
President and CEO: Tatsuo Yasunaga
It is a global trading and investment company which has a presence in over 60 countries. It is focussed on sectors such as energy and resources, machinery and infrastructure and chemicals.