Mahindra Susten, the cleantech arm of the Mahindra Group and a leading independent power producer in India, has appointed Avinash Rao as its new Managing Director and Chief Executive Officer, effective 24 September 2025. Rao will lead the company’s growth strategy, focusing on portfolio expansion and diversification across the renewable energy value chain.
The company is also building capabilities in emerging areas such as energy storage and integrated renewable energy systems, while setting benchmarks in clean energy reliability, governance, ESG practices, and sustainability.
“At Mahindra, sustainability and climate action are central to our purpose. Susten plays a pivotal role in accelerating our vision for a cleaner energy future. With its 15-year legacy in renewable energy, Susten is well-positioned to drive India’s energy transition. Avinash’s expertise across the energy value chain will enable us to create long-term value for stakeholders and accelerate clean energy adoption.” — Dr Anish Shah, Group CEO and Managing Director, Mahindra Group
Ontario Teachers’ Pension Plan, a long-term investor in Mahindra Susten, also welcomed the appointment.
“We congratulate Avinash Rao on his appointment and look forward to strengthening our partnership with Mahindra Susten, a key player in India’s renewable energy sector.” — Bruce Crane, Executive Managing Director and Head of Asia-Pacific, Ontario Teachers’
Rao brings nearly three decades of experience spanning conventional energy, power transmission, and renewables. He has built energy platforms from the ground up across multinational utilities, infrastructure funds, and listed InvITs.
Most recently, he served as CEO of Sustainable Energy Infra Investment Managers Pvt Ltd, the manager of India’s largest renewable energy InvIT, SEIT. His previous roles include leadership positions at Sekura India Management, backed by Edelweiss Alternatives, and CLP India, where he played a key role in scaling renewable energy businesses.
The appointment of Avinash Rao is expected to strengthen Mahindra Susten’s leadership in India’s renewable energy sector and drive its ambition of contributing significantly to the country’s clean energy transition.
