Today, Mahindra Susten is synomyous with trust, commitment and an uncompromising focus on quality, as one of the pioneers in the renewable energy project development in India, Susten has surely carved a niche. And at the centre of that change is the leader- Deepak Thakur.
Deepak’s professional journey spans over three decades, marked by prestigious roles in esteemed organisations across diverse industries such as energy, industrial equipment, electronics, and infrastructure. His varied experience covers sales, marketing, corporate strategy, business planning, project management, and strategic partnerships.
Deepak’s insights are backed up by his academic credentials. He holds a Bachelor of Engineering degree from the University of Pune and is an alumnus of the Symbiosis Institute of Business Management. With an in-depth knowledge of the Indian renewable energy market, along with strategic acumen towards driving business growth faster and increasing profitability, the enterprising leader is well placed to chart the course for Mahindra Susten in its vision to revolutionise clean energy and improve lives.
As the leader of Mahindra Susten, Deepak joined at a very delicate time in the company’s history and has been pivotal in changing the company’s direction and focusing them on the core competencies: masterminding the company’s strategic shift from third party Engineering, Procurement, and Construction (EPC) services to becoming an integrated Independent Power Producer (IPP). The shift expanded the company’s scope beyond solar energy to include wind solar hybrids, energy storage solutions, and round-the-clock renewable energy projects. This realignment not only diversified the company’s portfolio but also positioned it to harness emerging opportunities in the renewable energy domain.
FOCUSSED ON SUSTAINABILITY
Focussed on being responsible business committed to empowering communities under Deepak’s stewardship, Mahindra Susten has not only accomplished phenomenal growth but also reiterated its focus on sustainability which is at the heart of all its business operations. The business has become 100% water-positive, and its offices are now powered by green energy. Also, there is zero water to landfills. The organisation has obtained a Zero-Waste to-Landfill certification for its 1.5 GWp developed portfolio by rigorously reducing and recycling material waste.
Furthermore, the company actively assesses the Environmental, Social, and Governance (ESG) standards of major vendors to ensure a robust and sustainable supply chain.
DRIVEN BY INNOVATION
Under Deepak’s direction, Mahindra Susten led the development of solar powered project Modhera in Gujarat, India’s first energy-self-sufficient town, by combining a six-megawatt solar plant with a 19-megawatt-hour battery storage system. As energy storage gains traction, the leader anticipates a broader adoption of standalone storage solutions, enhancing grid stability and reliability.
BUILDING STRONG PARTNERSHIPS
Deepak’s vision is focused on the power of fair partnerships and respect for mutual understanding. He recognises the need for strategic alliances in the capital-intensive renewable energy industry. “The way we operate with partners is based on mutual respect,” he explains. “We work with vendor partners who are ESG-compliant, reinforcing our commitment to sustainable supply chain practices.”
This vision resulted in a tie-up with the Ontario Teachers’ Pension Plan a marquee investor with focus on quality assets under it ownership, which first invested in a 30% stake in Mahindra Susten and later raised it by another 9.99%. This tie-up resulted in a formation of an infrastructure investment trust (InvIT) in January 2025, now identified as the largest renewable energy InvIT in India. This novel financial structure helped, Mahindra Susten successfully maximise cash-conversion-cycles, growth, and high-quality assets that generate strong returns. This robust financial structure has also helped attract strong credits worthy partners like Sol-Bright Infrastructure, whose tie-up has proved instrumental in fuelling Mahindra Susten’s growth in the recent past.
Through nurturing meaningful, value centric partnerships, Deepak has supported Mahindra Susten in offering novel and practical solutions in the renewable energy sector carving a niche for itself, firmly focused on the core-competencies while and successfully navigating a volatile market. Deepak envisions Susten moving beyond the standard IPP template, transforming it into a holistic and integrated renewable energy service provider driven by quality and sustainability, his goal is to deliver firm, dispatchable, and schedulable renewable energy solutions tailor-made to suit its varied customer profiles.
RACKING UP ACCOLADES
Mahindra Susten has received various prestigious awards under Deepak’s sterling leadership, including the Company of the Year Award under the Developer (Platinum) category at the Utility Solar Show India Leadership Awards 2023.Just recently, Mahindra Susten received the Prestigious Mahindra RISE Awards for Sustainability for its deep-seated commitment and impact on ground. Mahindra Susten was also awarded ‘Most Trusted Brand’ underlining its 15 years of persistent and uncompromising growth story. Deepak’s vision, along with his commitment to sustainability and innovation, has catapulted Mahindra Susten to the forefront of India’s green energy revolution besides establishing a benchmark for responsible and effective leadership in the international renewable energy industry. He has adopted the ETC³ philosophy of Empathy, Transparency, Commitment, Customer-centricity, and Creating a Happy Environment to set the stage for excellence.
POWER PLAY
Deepak, prior to Mahindra Susten, was EVP for Renewables & Energy Storage at Reliance, shaping their New Energy strategy and managing M&A deals over USD 1.5 billion. As CEO at Sterling and Wilson, he led Hybrid & Energy Storage, plus Wind EPC & e-mobility. Notably, at Thermax, he spearheaded their entry into solar, making them a global leader in off grid solar thermal and a top 3 PV rooftop EPC player.
