Tech Mahindra has entered into share subscription agreement to acquire 26% equity shares in Huoban Energy 6 (Huoban). Tech Mahindra is signatory to Business Ambition for 1.5 degree Celsius that commits to contain the rise in global in temperature by 1.5 degree Celsius. Tech Mahindra has adopted a climate action plan that provides a roadmap for the organization to become Net Zero before 2040.
While the company has installed rooftop Solar plants at all their owned campuses, the company also plans to procure Renewable Energy (RE) through captive projects at all their owned campuses. Captive or Group captive projects are projects set up by a developer with a minimum equity contribution of 26% from interested consumers (viz. Tech Mahindra) and the RE generated from such projects is consumed by Tech Mahindra as per government norms.
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