CleanMax Secures $360 Mn to Generate 5 GW of Clean Energy

CleanMax Enviro Energy Solutions, has secured $360Mn drive CleanMax’s ambitious growth plans in the renewable energy sector. With this substantial capital infusion, the Mumbai CleanMax aims to generate over 5 GW of clean energy within the next three to four years, further solidifying its position as a key player in the industry.

Kuldeep Jain, Founder and Managing Director of CleanMax, expressed his enthusiasm about the partnership, stating, “With Brookfield’s extensive capital pool, we anticipate maintaining our market leadership in the C&I segment, while adding approximately 800-1000 MW annually to our C&I portfolio.”

Brookfield Renewable’s investment grants them a controlling stake in CleanMax, enabling them to collaborate closely with existing shareholders and management to propel growth in the commercial and industrial (C&I) segment in India.

Founded in 2011, Solar energy firm has been instrumental in providing sustainable and clean energy solutions to corporate consumers in Asia. Over the years, the company has helped more than 350 corporate consumers transition to renewable energy for their operations. It currently manages over 1.6 GW of operating wind and solar projects and supplies a staggering 3,076 GWh of green energy each year, offsetting around 2.5 million tonnes of CO2 annually. These impressive figures are equivalent to powering 855,000 households for a year.

The firm has a strong national presence, operating from five offices across India, as well as establishing a footprint in the UAE and Thailand. The company’s commitment to the environment aligns with the growing demand for corporate renewable energy solutions, leading CleanMax to explore additional growth opportunities in this space.

Nawal Saini, Managing Director of Renewable Power and Transition at Brookfield, emphasized the synergy between CleanMax’s goals and the Indian government’s net-zero aspirations, stating, “Indian corporates are well aligned with and actively working towards supporting the government’s net-zero goals. We are pleased to partner with CleanMax as they chart the next stage of their growth and look forward to supporting the company by leveraging Brookfield’s global relationships, access to capital, and operational expertise.”

CleanMax Energy boast a pipeline of 126,000 Megawatts

Brookfield Renewable boasts an extensive portfolio comprising hydroelectric, wind, utility-scale solar, and storage facilities across North America, South America, Europe, and Asia. The company currently has an installed capacity of approximately 25,700 megawatts and a development pipeline of around 126,000 megawatts of renewable power assets. Additionally, Brookfield is actively involved in carbon capture and storage initiatives, with an annual capacity of 12 million metric tonnes.

CleanMax Enviro Energy Solutions’ latest funding round, led by Brookfield Renewable, not only bolsters its financial resources but also positions the company for accelerated growth and continued leadership in the renewable energy sector. With their sights set on a greener future, CleanMax and Brookfield’s partnership promises to deliver sustainable energy solutions and contribute significantly to India’s clean energy transition.

The investment for the solar energy firm comes from Brookfield Renewable through the Brookfield Global Transition Fund (BGTF), solidifying a partnership that will drive CleanMax’s ambitious growth plans in the renewable energy sector.

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