Mahindra EPC successfully commissions two solar plants for auto consortium in Tamil Nadu
Commits to generating 150 MW of solar projects in Tamil Nadu over the next one year
Chennai, November 21, 2013: Mahindra EPC Services Pvt. Ltd., one of India’s largest Solar EPC players and a part of the USD $16.2 billion Mahindra Group, has successfully commissioned two solar plants for a consortium of automotive component manufacturers in Tamil Nadu in a record-breaking 40 days. These include a 2.12 MW plant for M M Forgings Ltd. and a 1.06 MW plant for Super Auto Forge Pvt. Ltd., which are both located in Aruppukottai. In addition to these two companies, the consortium consists of I.M. Gears, the Rane Group and Autotech Industries (India) Pvt. Ltd.
When these five firms first explored an investment in solar, their management teams soon realized the scale benefits that could be achieved through collocating clean energy assets – and ultimately formed a consortium to invest in solar energy together. “At Super Auto Forge Pvt. Ltd., we are keenly interested in promoting the use of captive renewable energy for our facilities – and we were pleased that we, along with our four partners, could come together and develop an innovative structure to make solar power an affordable reality,” said Murali Shankar, Joint MD of Super Auto Forge Pvt. Ltd.
Given the tough timeline and complexity of these projects, the consortium conducted a thorough search of domestic and international EPCs to ensure the prompt and cost-effective completion of the plants. Ultimately, the group selected Mahindra EPC to undertake this project given its strong track record and its commitment to building high-quality solar facilities. “In only forty days, Mahindra EPC fully commissioned the plant – and we have been pleased with its results,” said Vidyashankar Krishnan, Vice Chairman & MD, M M Forgings Ltd. Given this initial success, the group looks forward to further developing solar assets in Tamil Nadu in the coming years.
“With the commissioning of our project in Tamil Nadu, we have reaffirmed our commitment to be a leading pan-Indian EPC firm that is defined by on-time, quality execution. We are excited by our entrance into Tamil Nadu, which we see as a vibrant solar market with significant potential, and we are committed to further expanding across the state,” said Basant Jain, CEO, Mahindra EPC.
“We are pleased to see that this consortium approach was developed by several well-respected companies to meet their energy needs – and we feel that it will be this kind of innovative structuring that will promote solar across India as the market continues to mature,” said Parag Shah, Managing Partner of Mahindra Partners. “The Mahindra Group is committed to helping the renewable sector Rise across India and we are proud of Mahindra EPC’s continued success.”
The two solar plants will supply more than 4.78 million units of clean energy, displacing nearly 3380 MT of CO2 annually, and were executed with the support of TANGEDCO, TEDA, NCES, the TNERC and the Energy Fuel Association of India.
Going forward, Mahindra EPC will continue to execute world-class solar projects across India, with over 200 MW planned over the next two years, and retain its leadership position in country’s solar market.
About Mahindra EPC
As one of the largest Solar EPC players in the country this year, Mahindra EPC Services Pvt. Ltd. is committed to providing world class EPC solutions to its customers. Mahindra EPC Services Pvt. Ltd. is a portfolio company under Mahindra Cleantech, Mahindra Partners. Mahindra EPC has established itself as a dominant player in both Grid Connected and Off-Grid EPC services, and has installed over 80 MW of solar power plants across the country.
About Mahindra Group
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services,industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. In 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category.
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