Avinash Rao named new MD & CEO of Mahindra Susten

INDIA – Mahindra Susten, the renewable energy arm of Mahindra Group, has appointed Avinash Rao as its new Managing Director and Chief Executive Officer, effective September 24, 2025.

Rao will lead the company’s growth plans as it expands across the renewable energy value chain.

Rao brings nearly three decades of experience across conventional energy, power transmission, and renewable energy. He has previously built and managed platforms at multinational utilities, infrastructure funds, and listed investment trusts.

Most recently, he served as CEO of Sustainable Energy Infra Investment Managers Pvt. Ltd., which manages India’s largest renewable energy InvIT listed on the National Stock Exchange.

At Mahindra Susten, he will oversee a portfolio that already includes more than 1.6 GW of commissioned projects and a pipeline of nearly 3.6 GW spanning solar, wind, hybrid, and commercial-industrial solutions. The company is also developing capabilities in energy storage and integrated clean energy systems.

Dr. Anish Shah, Group CEO and Managing Director of Mahindra Group, said the appointment reflects the company’s deep commitment to sustainability.

“At Mahindra, sustainability and climate action are not just priorities, they are core to our purpose. We are setting benchmarks in ESG and sustainability, and Susten plays a pivotal role in accelerating this vision.”

“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 major investor in Mahindra Susten, welcomed the leadership 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 with Mahindra Susten. The company has established itself as a key player in India’s renewable energy sector and we are pleased to support its ongoing efforts to deliver reliable, high-quality clean energy solutions.”

Mahindra Group expands in farming sector

The leadership change comes as Mahindra Group reported growth in other areas of its business. In July 2025, Mahindra & Mahindra Ltd.’s Farm Equipment Business sold 26,990 tractors in India, reflecting a 5 percent increase compared to the same month last year. Including exports, total sales reached 28,708 units.

Veejay Nakra, President of Mahindra’s Farm Equipment Business, said rural demand boosted the results. “This performance was driven by sustained land preparation activities, supported by robust cash flows in rural markets following the conclusion of Rabi crop harvesting. Additionally, the normal progression of monsoon across most regions further contributed to good demand during the onset of sowing for the Kharif season.”

Between April and July, domestic tractor sales rose 9 percent year-on-year to 156,189 units. Analysts say favorable rainfall patterns and steady rural cash flows continue to support Mahindra’s strong position in the farming sector.

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