CleanMax Enviro Energy Solutions Pvt. Ltd., a renewable energy company based in Mumbai, has successfully concluded an equity fund raise from Brookfield Renewable through the Brookfield Global Transition Fund (BGTF). The funding, totaling approximately US$360 million, includes both primary and secondary investments and will fuel CleanMax’s growth strategy of establishing a platform exceeding 5 GW within the next three to four years. This infusion of capital grants Brookfield Renewable a controlling stake in CleanMax and positions them to collaborate with existing stakeholders and management in driving the company’s expansion in the commercial and industrial (C&I) sector in India.
Brookfield recognizes the alignment of Indian corporations with the government’s net-zero goals and views CleanMax as an efficient partner for C&I customers in their pursuit of decarbonization objectives. The partnership aims to leverage Brookfield’s global relationships, access to capital, and operational expertise to support CleanMax’s growth ambitions.
By securing substantial growth capital from Brookfield, CleanMax expects to maintain its market leadership in the C&I segment and aims to add approximately 800-1000 MW to its C&I portfolio annually. The company’s track record demonstrates its commitment to investing in high-return projects, fostering partnerships with reputable customers, and executing large-scale projects efficiently and cost-competitively. CleanMax also intends to expand its C&I footprint within India and explore opportunities for value creation in the corporate renewable energy space.
In terms of environmental impact, CleanMax currently offsets 2.5 million tons of CO2 equivalent per year through its clean energy generation capacity of 1.6 GW, which includes both on-book and third-party CAPEX sales capacities. With its clean energy generation totaling 3,076 GWh, CleanMax powers sustainability for over 350 clients, providing enough energy to supply approximately 855,000 households.