The Ontario Teachers’ Pension Plan has agreed to purchase a 30% share in Mahindra’s renewable energy assets for 23.71 billion rupees ($297.5 million).
Mahindra stated in a stock exchange filing on Saturday that this will allow the Mahindra Group to unlock value in the Renewable Energy Sector, and it will continue to invest with Ontario Teachers’ to assist attain its dual objectives of faster development and worldwide leadership in ESG.
Pension funds are frequently enticed to invest in renewable energy-producing projects because of the predictable long-term profits. OTTP has committed to spending up to $1 billion on a new offshore wind firm created by Macquarie Group Ltd in Australia.
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