Mitsui and Company acquires 49 per cent equity stake in Marvel Solren

Japan-based Mitsui and Company 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 the country. The equity investment will be made by Mahindra Susten and Mitsui in the ratio of 51:49, which means an overall investment of about Rs 6 billion with equity contribution of about Rs 1.8 billion.