Mahindra Susten appoints Avinash Rao as MD and CEO

Mahindra Group’s cleantech arm Mahindra Susten said on Monday that it has appointed Avinash Rao as the company’s new MD and CEO, effective from September 24, 2025.

Rao will chart and spearhead the growth strategy for the independent power producer (IPP,) focusing on diversifying the portfolio across the renewable energy value chain.

As per the company, Rao has been a seasoned veteran in the energy sector for over three decades. Before joining Mahindra Susten, he served as the CEO of Sustainable Energy Infra Trust Investment Managers, the investment management arm of Sustainable Energy Infra Trust (SEIT,) a privately listed InvIT sponsored by a subsidiary of the Ontario Teachers’ Pension Plan Board (OTPP) and Mahindra Susten.

SEIT is an Infrastructure Investment Trust established to own and operate renewable energy assets. Rao has also held key roles in Edelweiss Alternatives-backed Sekura India Management Limited and CLP India, in the past.

Mahindra Susten has a total of 1.6 GW of commissioned projects in the renewable energy space, and currently holds a robust pipeline of nearly 3.6 GW across solar, wind, hybrid projects, and C&I (Commercial & Industrial) solutions, according to the company statement.

“We are setting benchmarks in ESG and sustainability, and Susten plays a pivotal role in accelerating this vision. With 15 years of legacy in renewable energy and having a diversified portfolio, Susten is well-positioned to lead India’s renewable energy transition. 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,” said Dr. Anish Shah, Group CEO & MD, Mahindra Group, in a statement.

The company stated that it is focused on expanding to allied sectors such as energy storage and integrated renewable energy solutions.

Speaking on Rao’s appointment, Bruce Crane, executive MD and Head of Asia-Pacific, Ontario Teachers', an investor in Mahindra Susten, said that the appointment is set to help the cleantech firm in strengthening its position in the India market.