Mahindra & Mahindra Group today announced the signing of the share purchase agreement to sell its entire 60.1% stake in its solar development arm Emergent Solren to Sustainable Energy Infra Trust (SEIT), a renewable energy focused infrastructure investment trust sponsored by Canadian pension fund Ontario Teachers’ Pension Plan and Mahindra Susten. The balance 39.99% stake of Emergent Solren, held by 2OL (an arm of Ontario Teachers’ Pension Plan), has also been sold to SEIT.
Emergent Solren has a solar portfolio of 360 MW.
Further, Mahindra & Mahindra Group has announced the signing of the share purchase agreements for the sale of its step-down arms Mega Suryaurja and Megasolis Renewables to SEIT. With this, Megasolis Renewables’ wholly owned arms Neo Solren, Astra Solren, and Brightsolar Renewable Energy would also cease to be subsidiaries of the company.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.