Mahindra, Ontario Teachers co-sponsor InvIT in RE

25 Jan 2024 CW Team

Mahindra Group and global institutional investor Ontario Teachers' Pension Plan Board have co-sponsored an infrastructure investment trust (InvIT) holding assets of 1.54 GW in the renewable energy space in India. The InvIT, Sustainable Energy Infra Trust (SEIT), is India's largest InvIT in the renewable energy space and has raised primary capital of Rs 1,365 crore as part of the initial offer of units (offer), Mahindra Group said in a statement.

Several global and Indian investors, including Asian Infrastructure Investment Bank (AIIB), subscribed to the offer.

SEIT has been set up to focus on the growth of the renewable energy sector in India at scale. It holds operational renewable power assets seeded by Mahindra Susten with a generation capacity of approximately 1.54 GWp.

The capital of Rs 897.8 crore made available to Mahindra Susten by way of an offer for sale of units of SEIT will help Mahindra Susten develop a future pipeline of renewable energy assets.

Mahindra Susten and SEIT, as a part of their growth strategy, have entered into a Right Of First Offer (ROFO) arrangement, in compliance with InvIT Regulations, whereby renewable energy assets developed by Mahindra Susten will be offered for sale to SEIT.

Infrastructure Energy

19 Sep 2025

Nawgati Partners with Seed Group to Modernise UAE Fuel Retail

Nawgati, India’s leading fuel-tech platform, has partnered with Seed Group, part of The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to transform the UAE’s fuel retail and station management sector. The tie-up will deploy digital solutions to ease congestion, improve compliance, and enhance operational efficiency across outlets. Vaibhav Kaushik, Co-founder and CEO of Nawgati, said, “This partnership with Seed Group marks a significant milestone in Nawgati’s journey as we step out of India and into global markets. With Seed Group’s regional leadership and our technology, ..

Sterling Opens Sterling Hibis Vellore, Its First Resort in the City

Sterling Holiday Resorts has announced the launch of Sterling Hibis Vellore, a 40-key resort spread across 5.3 acres off Tiruvannamalai Road. This marks Sterling’s debut in Vellore and its ninth property in Tamil Nadu. Positioned as a resort-style escape within city limits, Sterling Hibis Vellore caters to pilgrims visiting Sripuram Golden Temple, families exploring Vellore Fort, medical and academic visitors to CMC and VIT, and corporates seeking retreats. Guests can also extend trips with nearby Sterling properties in Yelagiri and Tiruvannamalai. The resort features 36 Classic Ro..

TVS ILP’s Hosur Facility Powers Ather’s Festive Season Growth

TVS Industrial & Logistics Parks (TVS ILP) is enabling brands to meet festive season demand with Grade-A Built-To-Suit (BTS) facilities. Its Hosur park, home to Ather Energy’s largest EV manufacturing centre, has helped the company scale to a production rate of one vehicle every 0.46 seconds. As two-wheeler EVs gain momentum, supported by rising adoption in Tier II and III cities and the upcoming GST 2.0 reform, Ather recorded the second-highest EV sales in August. To support festive peaks, TVS ILP is expanding EV charging infrastructure, optimising space at the battery unit, ..