en.Wedoany.com Reported - Indian conglomerate Mahindra & Mahindra plans to invest ₹1.117 billion to support the construction of a 30 MW AC captive solar power plant in Punjab. The funds will be infused into Neon Hybren Private Limited, a subsidiary of Mahindra Susten Private Limited, which is ultimately controlled by Mahindra Holdings Limited. The investment will be made through the subscription of equity shares, with relevant details disclosed through regulatory filings. 
The project will adopt a grid-connected, ground-mounted photovoltaic power station model, primarily for captive power supply. Full acquisition is expected to be completed by December 31, 2026. Mahindra will subscribe to a specific number of shares as per the agreement terms. The investment may be executed in one or multiple tranches, with the proceeds to be used for project-related operations and general corporate purposes.
Upon completion of the transaction, Mahindra will directly hold equity in Neon, ensuring ownership of at least 26% of the share capital. Mahindra Susten has approved this acquisition, which will reduce its stake in Neon from 100% to 74%. Neon will continue to operate as an independent power producer and distributed energy solutions provider, offering services including rooftop solar to commercial, industrial, institutional, and residential clients.
This investment will expand Mahindra Susten's renewable energy portfolio. The company previously commissioned 560 MWp of utility-scale solar capacity in 2025, demonstrating its continued expansion in utility projects. The captive solar plant is expected to supply clean energy to industrial and commercial users, reducing reliance on the grid. The transaction aims for completion by the end of 2026 to support the group's cross-regional development in the distributed energy sector. Industry observers note that such investments reflect a broader trend of corporate investment in on-site renewable energy.
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