Mahindra Renewables plans $171 mn investment for solar project in Rajasthan

Mahindra Renewables Private Limited (MRPL), a wholly owned subsidiary of Mahindra Group (worth $20.7 billion) cleantech arm Mahindra Susten Private Ltd (MSPL)  is planning to invest around $171 million to set up a 250 mega watt (MW) solar power project in Rajasthan. The project will be backed by International Finance Corporation (IFC).

The proposed project will consume around 1200 acres (486 hectares) at Bhiv ji ka gaon Village in Bap Tehsil, Jodhpur District in Rajasthan.

IFC's estimated project cost is Rupee equivalent of around $171 million. The project involves an IFC ‘A’ Loan investment of Rupee equivalent of $36 million