Mitsui & Co acquires 49 per cent equity stake in Marvel Solren

Japan-based Mitsui & Co Limited has acquired a 49 per cent equity stake in Marvel Solren Private Limited from Mahindra Susten. The remaining equity (51 per cent) will continue to be held by Mahindra Susten. With this, both companies will jointly develop and operate distributed solar power generation projects in India. The companies are targeting to develop around 150 MW of solar assets over the next three years, and, for this, they will require an overall investment of about Rs 6 billion with equity contribution of about Rs 1.8 billion.

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