Mahindra & Mahindra to take 26 percent stake in Gelos Solren for captive hybrid project
Mahindra & Mahindra Limited has signed a share subscription and shareholder’s agreement to buy a 26 per cent equity stake in Gelos Solren Private Limited, a wholly owned subsidiary of Mahindra Susten. The investment will support a 100.8 MW captive wind-solar hybrid project in Maharashtra. Mahindra & Mahindra will invest Rs 371.42 million to acquire the 26 percent stake. Gelos Solren will develop the 100.8 MW hybrid system with 100.8 MW of wind capacity and…