Mahindra Launches ‘TEQO’ - Asset Optimization Solution for Global Renewables Industry

2024-04-18 09:06:25 Environment

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Mumbai, June 12, 2019: Mahindra Partners, the USD 1 billion Private Equity division of the
Mahindra Group, today launched TEQO, a technology-driven asset care company that offers
optimization solutions for Renewable Energy customers in India and globally. Mahindra Partners currently manages the Group?s Cleantech Division, including Mahindra Susten, which is India?s leading solar EPC company.
The name TEQO is derived from three words, Technology, Quality, and Operations and reflects
the company?s aspiration to deliver a comprehensive, technology-enabled, asset management
solution. Mahindra Teqo enables Renewable energy asset owners to maximize their returns by
leveraging advanced technologies, including Machine Learning, Artificial Intelligence, IoT, Big
Data, Robotics, Augmented Reality and Natural Language Processing.
TEQO began life back in 2013 as part of Mahindra Susten, rapidly growing into the world?s tenth-largest provider of solar Operations and Maintenance (O&M) services. This prompted Mahindra
to give the company a new identity, to accelerate its growth, with the aspiration to emerge as a
a leading player in the global Renewable Energy asset management Industry.
?I am delighted to see the successful journey of TEQO over the last six years from a captive O&M
department within Susten, into a business unit and now as an independent entity ? TEQO. With
digitalization, sustainable technologies and customer-centricity at its core, I am confident that
TEQO will lead the way in the tech-enabled Renewable Energy O&M space globally? said Parag
Shah, Managing Partner, Mahindra Partners.
TEQO offers customers cutting edge Asset Monitoring solutions, power generation maximizing
algorithms, precision robotics, automated drones, on-ground operations and maintenance fleets.
In addition, it also offers asset management services, technical due diligence expertise and
performance analysis services. In its earlier avatar, the company was known for its customer
centricity and has always strived to help customers get the best out of their renewable energy
assets.
?With over 4 GWp of projects experience in a short span of 6 years, and a growing eco-system
of advanced technology products and services, backed by a strong team with deep domain
expertise, we at TEQO are proudly building the most comprehensive renewable energy asset
a management company with a global footprint.? said Steve Odak, CEO, Mahindra Teqo.
The company aims to drive innovation as the industry demands smarter ways to maximize
generation with a clear line of sight to hybrid Solar, Wind, Storage and conventional energy
portfolios, as it aims to reach a 20 GWp portfolio by 2022, with a significant global footprint.
The company remains firmly committed to serving its customers and enabling them to succeed in the
competitive renewable energy landscape.
As the Renewable Energy industry continues to grow rapidly, with the global Solar industry set to
triple its installed capacity by 2027, TEQO has taken a proactive approach to identify the issues
from hybrid portfolios, including Solar, Wind, Storage and conventional energy sources. The
software and analytics platform is capable of integrating insights from hybrid portfolios and
offering a unified view to the asset owners for seamless monitoring and analytics to maximize
generation and ROI from their investments.
For more information, visit www.mahindrateqo.com

About Mahindra Partners
Established in 2010, Mahindra Partners is the private equity & corporate venture capital arm of
the Mahindra Group. With assets under management of over USD 1 BN, their current
investments span logistics, healthcare and renewables among other sectors. The portfolio and
team are placed across India and Silicon Valley in the US.
For more information, visit www.mahindrapartners.com

About Mahindra Group
The Mahindra Group focuses on enabling people to rise through solutions that power mobility,
drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 20.7 billion multinational group based in Mumbai, India, Mahindra employs more than
200,000 people in over 100 countries. Mahindra operates in the key industries that drive
economic growth, enjoying a leadership position in tractors, utility vehicles, information
technology, financial services, and vacation ownership. In addition, Mahindra enjoys a strong
presence in the agribusiness, aerospace, components, consulting services, defense, energy,
industrial equipment, logistics, real estate, retail, steel, commercial vehicles, and two-wheeler
industries. Visit us at www.mahindra.com