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Mahindra & Mahindra Ltd has appointed Avinash Rao as the new Managing Director and Chief Executive Officer of Mahindra Susten, its renewable energy arm. The announcement, made in August 2025, marks a strategic leadership shift as the company prepares for its next phase of expansion in solar infrastructure, green energy investments, and sustainable asset development. Rao’s appointment comes at a time when Mahindra Susten is scaling its operations under the Sustainable Energy Infra Trust (SEIT), India’s largest renewable energy InvIT.
Key Highlights From The Leadership Transition
- Avinash Rao takes over as MD & CEO of Mahindra Susten, succeeding Deepak Thakur
- Rao previously served as CEO of the Investment Manager to SEIT, overseeing capital deployment and portfolio growth
- His elevation reflects Mahindra Group’s confidence in his ability to lead the company’s ambitious 5X growth strategy over the next five years
- The appointment aligns with Mahindra’s broader sustainability goals and its commitment to net-zero emissions by 2070
Strategic Role In SEIT And Renewable Expansion
- SEIT, co-sponsored by Mahindra Group and Ontario Teachers’ Pension Plan Board, holds a renewable energy portfolio of 1.54 GWp
- Rao played a key role in structuring SEIT’s listing on the National Stock Exchange, which raised INR 1,365 crore in primary capital
- Under his leadership, Mahindra Susten entered a Right of First Offer arrangement with SEIT, ensuring a steady pipeline of operational assets
- The InvIT structure has attracted significant interest from global investors including AIIB, positioning Mahindra Susten as a preferred platform for green infrastructure
Operational Focus And Growth Vision
- Mahindra Susten aims to expand its renewable capacity fivefold by 2030, with a focus on solar parks, hybrid energy systems, and storage solutions
- Rao’s leadership will prioritize asset monetization, technology integration, and investor partnerships
- The company is expected to deepen its presence in high-growth states like Rajasthan, Gujarat, and Tamil Nadu
- Emphasis will also be placed on ESG compliance, digital monitoring, and community engagement around project sites
Industry Context And Competitive Landscape
- India’s renewable energy sector is projected to reach 500 GW by 2030, driven by policy incentives and global climate commitments
- Mahindra Susten competes with players like ReNew Power, Adani Green, and Tata Power Renewables in utility-scale solar and hybrid projects
- The InvIT model offers a capital-efficient route for scaling operations while maintaining asset-light balance sheets
- Rao’s financial acumen and operational experience are expected to give Mahindra Susten a competitive edge in this evolving market
Leadership Commentary And Future Outlook
- Mahindra Group CEO Anish Shah has reiterated the Group’s commitment to sustainability and innovation in energy
- Rao emphasized that renewable energy is a core sector for India’s future, and Mahindra Susten is well-positioned to lead the transition
- The company will continue to explore strategic partnerships, international collaborations, and new technologies to accelerate its roadmap
- With Rao at the helm, Mahindra Susten is expected to play a pivotal role in India’s green energy transformation
Conclusion
Avinash Rao’s appointment as MD & CEO of Mahindra Susten marks a decisive moment in the company’s evolution. With deep expertise in investment strategy and renewable operations, Rao is set to steer Mahindra Susten into its next growth chapter. As India intensifies its push toward clean energy, Mahindra Susten’s leadership, backed by institutional capital and visionary planning, positions it as a key player in shaping the country’s sustainable future.
Sources: Mahindra Group, Connected to India, The Free Press Journal, NSE India.
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