Mahindra Susten Appoints Avinash Rao as MD & CEO to Drive Renewable Growth
By Editorial Desk | August 25, 2025
Mahindra Susten, the cleantech arm of the Mahindra Group and a leading independent power producer (IPP) in India, has appointed Avinash Rao as its new Managing Director and Chief Executive Officer, effective September 24, 2025. Rao, a seasoned energy sector veteran with nearly three decades of experience, will lead the company’s ambitious growth strategy to expand its renewable energy portfolio, focusing on solar, wind, hybrid projects, and emerging areas like energy storage. With 1.6 GW of commissioned projects and a 3.6 GW pipeline, Mahindra Susten aims to reinforce its leadership in India’s renewable energy transition. This article provides a detailed analysis of Rao’s appointment, Mahindra Susten’s strategy, and its implications, supported by data in tables and answers to frequently asked questions.
Avinash Rao’s Appointment
Announced on August 25, 2025, Avinash Rao’s appointment as MD and CEO positions him to steer Mahindra Susten toward a diversified portfolio across the renewable energy value chain. The company, established in 2010, has commissioned over 1.6 GW of renewable projects and manages a pipeline of nearly 3.6 GW, spanning solar, wind, hybrid, and Commercial & Industrial (C&I) solutions. Rao’s leadership will focus on scaling these efforts, building capabilities in energy storage, and advancing integrated renewable solutions, aligning with India’s 500 GW renewable energy target by 2030. The appointment has been endorsed by Mahindra Group CEO Dr. Anish Shah and Ontario Teachers’ Pension Plan, a key investor, highlighting Rao’s expertise in driving sustainable growth.
Mahindra Susten and India’s Renewable Sector
Mahindra Susten, part of the $23 billion Mahindra Group, has been a pioneer in India’s renewable energy sector since 2010, delivering 4.2 GW of projects under engineering, procurement, and construction (EPC) contracts. Its 15-year legacy includes setting benchmarks in ESG (Environmental, Social, Governance) practices, safety, and quality. India’s renewable energy capacity reached 100 GW in solar module capacity in 2025, with projections to hit 190 GW by 2027, driven by government policies like the National Critical Minerals Mission and BIO E3. Rao succeeds Deepak Thakur, who led the company’s renewable and energy storage initiatives since October 2022, positioning it as a key player in India’s clean energy transition.
Rao’s appointment comes amid global trade challenges, including U.S. tariffs of 50% on Indian exports, prompting India to bolster domestic renewable capabilities. Mahindra Susten’s focus on innovation aligns with Japan’s $68 billion investment pledge in India, emphasizing semiconductors and clean energy, signaling strong international support for India’s green ambitions.
Rao’s Role and Strategy
Appointment Details
- Effective Date: September 24, 2025.
- Role: Lead Mahindra Susten’s growth strategy, diversify portfolio, and enhance innovation in renewable energy.
- Portfolio: Oversee 1.6 GW of commissioned projects and a 3.6 GW pipeline, including solar, wind, hybrid, and C&I solutions.
- Emerging Focus: Build capabilities in energy storage and integrated renewable solutions.
Rao’s Background
- Experience: Nearly 30 years across conventional energy, power transmission, and renewables.
- Previous Roles:
- CEO, Sustainable Energy Infra Investment Managers Pvt. Ltd.: Led India’s largest renewable energy Infrastructure Investment Trust (InvIT), listed on the National Stock Exchange.
- Leadership at Sekura India Management Ltd.: Managed energy platforms under Edelweiss Alternatives, scaling renewable businesses.
- CLP India: Built a 1.1 GW renewable portfolio over 20 years, setting benchmarks in due diligence and sustainability reporting.
- Education: Mechanical Engineering degree from Mangalore University, management training at IMD Switzerland, and World Business Council for Sustainable Development alumni.
Strategic Objectives
- Portfolio Expansion: Grow Mahindra Susten’s 3.6 GW pipeline, targeting a 5x increase in capacity over the coming years.
- Innovation: Develop energy storage and round-the-clock (RTC) solutions integrated with solar and hybrid projects.
- ESG Leadership: Strengthen Mahindra Susten’s position as a leader in sustainable practices, supporting India’s carbon neutrality goals.
- Stakeholder Value: Create long-term value, as emphasized by Dr. Anish Shah, through operational excellence and partnerships.
Endorsements
Dr. Anish Shah, Mahindra Group CEO: Highlighted Rao’s expertise in platform creation and operational excellence to drive India’s renewable transition.
Bruce Crane, Ontario Teachers’ Pension Plan: Welcomed Rao’s leadership to strengthen Mahindra Susten’s role in delivering high-quality clean energy.
Trends and Implications
Strategic Rationale
Rao’s appointment aligns with Mahindra Susten’s goal to lead India’s renewable energy sector, leveraging its 15-year legacy and diversified portfolio. His experience in building energy platforms from scratch positions him to navigate challenges like U.S. tariffs and competition from players like Adani, which dominates with large-scale projects like the 5,000 MW Khavda solar tender. The focus on energy storage and RTC solutions addresses India’s need for stable, 24/7 clean energy, critical for industrial and commercial sectors.
Industry Trends
- Renewable Growth: India’s solar market hit 100 GW in 2025, with a 190 GW target by 2027, driven by IPPs like Mahindra Susten.
- Energy Storage: Emerging technologies like battery storage are key to addressing intermittency in solar and wind projects.
- Global Investment: Japan’s $68 billion pledge and Kyndryl’s $2.25 billion tech investment in India signal strong foreign interest in India’s green and tech sectors.
- ESG Focus: Mahindra Susten’s water-positive status and community training programs (e.g., 10,000+ trained at its Karjat Centre of Excellence) set ESG benchmarks.
Economic and Market Impacts
- Job Creation: Expansion could add thousands of jobs, leveraging India’s 5.4 million tech and renewable workforce.
- Market Reaction: Mahindra & Mahindra shares rose 2% on BSE post-announcement on August 25, 2025, reflecting investor confidence.
- Competitive Edge: Rao’s expertise could help Mahindra Susten capture a larger share of India’s $250 billion renewable market by 2030.
Challenges
- U.S. Tariffs: The 50% U.S. duties could strain India’s export-driven sectors, requiring domestic market focus.
- Competition: Rivals like Adani and Tata Power dominate large-scale projects, challenging Mahindra Susten’s growth.
- Execution Risks: Scaling energy storage and hybrid projects demands significant capital and technical expertise.
- Regulatory Hurdles: Navigating India’s complex energy policies and land acquisition processes could delay projects.
Future Projections
Under Rao, Mahindra Susten could achieve a 5x portfolio growth by 2030, potentially reaching 10 GW in capacity. Partnerships with investors like Ontario Teachers’ and global players like Japan’s tech firms could drive innovation in AI-integrated energy solutions. The company’s focus on ESG and community empowerment, including training 140+ women at its Karjat facility, positions it as a leader in sustainable development. However, competition and geopolitical risks, such as U.S.-China trade tensions, may require strategic agility.
Mahindra Susten’s Renewable Portfolio (2025)
Metric | Value | Details |
|---|---|---|
Commissioned Projects | 1.6 GW | Solar, wind, hybrid, and C&I solutions |
Development Pipeline | 3.6 GW | Includes upcoming solar and hybrid projects |
EPC Projects | 4.2 GW | Executed in India and globally |
Growth Target | 5x | Planned capacity increase over coming years |
Key Focus | Energy Storage, RTC | Emerging areas for stable clean energy |
Avinash Rao’s Career Highlights
Role | Organization | Key Achievements |
|---|---|---|
CEO | Sustainable Energy Infra Trust (SEIT) | Led India’s largest renewable InvIT, NSE-listed |
Managing Director | Sekura India Management Ltd. | Scaled renewable platforms under Edelweiss Alternatives |
Various Roles | CLP India | Built 1.1 GW renewable portfolio over 20 years |
Education | Mangalore University | Mechanical Engineering; IMD Switzerland training |
FAQs
Who is Avinash Rao?
Avinash Rao is the new MD and CEO of Mahindra Susten, with nearly 30 years of experience in energy, previously leading Sustainable Energy Infra Trust and holding roles at Sekura India and CLP India.
What is Mahindra Susten’s role in India’s renewable sector?
It’s a leading IPP with 1.6 GW commissioned and 3.6 GW in development, focusing on solar, wind, hybrid, and energy storage solutions.
When does Avinash Rao’s appointment take effect?
September 24, 2025, as announced on August 25, 2025.
What are Mahindra Susten’s growth plans?
To expand its 3.6 GW pipeline, targeting a 5x capacity increase, with a focus on energy storage and integrated solutions.
How does Rao’s experience benefit Mahindra Susten?
His expertise in building energy platforms and scaling renewable businesses will drive portfolio growth and innovation.
Who endorsed Rao’s appointment?
Dr. Anish Shah (Mahindra Group CEO) and Bruce Crane (Ontario Teachers’ Pension Plan) praised his leadership for sustainable growth.
What is Mahindra Susten’s ESG commitment?
It sets benchmarks in sustainability, with water-positive status and training programs for 10,000+ individuals.
How do U.S. tariffs impact Mahindra Susten?
The 50% tariffs may shift focus to domestic markets, where Rao’s strategy can leverage India’s renewable demand.
What are the risks for Mahindra Susten?
Competition from Adani and Tata Power, execution challenges in energy storage, and regulatory hurdles.
What’s next for Mahindra Susten under Rao?
Aiming for 10 GW capacity by 2030, with partnerships and innovation in AI-integrated energy solutions.
