Mahindra Susten names Avinash Rao as new MD & CEO

Mahindra Susten, the cleantech and independent power production (IPP) arm of the Mahindra Group, has appointed Avinash Rao as its new Managing Director & Chief Executive Officer, effective 24 September 2025, according to a company press release and contemporaneous media reports.

In his new role, Rao will spearhead Mahindra Susten’s ambitious strategic expansion across the renewable energy value chain. The company currently holds over 1.6 GW of commissioned projects and maintains a pipeline of nearly 3.6 GW, spanning solar, wind, hybrid projects and commercial & industrial (C&I) solutions. It is also investing in emerging domains such as energy storage and integrated renewable energy solutions.

Dr Anish Shah, Group CEO and MD of the Mahindra Group, emphasised the strategic importance of this appointment, stating: “At Mahindra, sustainability and climate action are not just priorities—they are core to our purpose … Avinash’s deep expertise across the entire energy value chain—from platform creation to investment and operational excellence—will enable us to create long-term value for our stakeholders while accelerating the transition to a cleaner energy future.”

Ontario Teachers’ Pension Plan—a long-term investor in Mahindra Susten—also welcomed the move. Bruce Crane, Executive Managing Director and Head of Asia-Pacific at Ontario Teachers’, said: “We congratulate Avinash Rao on his appointment and look forward to continuing our strong partnership … we are pleased to support its ongoing efforts to deliver reliable, high-quality clean energy solutions.”

Rao brings nearly three decades of experience across conventional energy, power transmission, and renewable sectors. Most recently, he served as CEO of Sustainable Energy Infra Investment Managers Pvt Ltd, the investment manager for SEIT, India’s largest pure-play renewable energy InvIT listed on the NSE. Previously, he held leadership roles at Sekura India Management Limited (an Edelweiss Alternatives-backed firm) and at CLP India, where he played a key role in building, acquiring and scaling renewable energy businesses.

Mahindra Susten is building on its nearly 1.6 GW operating capacity and nearly 3.6 GW development pipeline to become a leader in clean energy solutions. The company is broadening its offerings with storage and integrated renewables, underpinning its ethos of safety, diversity, quality, governance, and ESG excellence.

Rao’s appointment comes as India accelerates its transition to clean energy amid rising demand and global climate imperatives. With his extensive track record in platform creation, operational rigour, and investment management, Rao could drive Mahindra Susten’s transformation into a leading supplier of reliable, scalable renewable solutions.

At the same time, the firm’s increasing focus on energy storage and hybrid systems reflects a broader market shift toward integrated solutions—key to managing intermittency and bolstering grid stability.