Martial Solren, a wholly owned subsidiary of Mahindra Susten Private Limited, has secured a rupee term loan worth Rs 14.48 billion from HDFC Bank and Axis Bank.
The funds will be utilised for the development of 560 MWp solar power projects in Gujarat and Rajasthan under long-term power purchase agreements with Gujarat Urja Vikas Nigam Limited and Rajasthan Urja Vikas Nigam Limited. The solar projects are expected to generate approximately 900,000 MWh of clean energy annually.