Cleanmax And Osaka Gas Form Joint Venture To Accelerate India’s Green Energy Transition

CleanMax, a leading renewable energy provider in Asia’s Commercial and Industrial (C&I) sector, has entered into a strategic joint venture with Osaka Gas Co. Ltd., a major Japanese gas company. This partnership marks an important step toward accelerating India’s green energy transition. CleanMax, which is backed by Brookfield, and Osaka Gas are joining forces to help corporate clients move toward a low-carbon economy. The collaboration combines CleanMax’s expertise in decarbonization solutions with Osaka Gas’ global presence and experience in the energy sector.

This joint venture also represents Osaka Gas’ first entry into India’s green energy market. The partnership will focus on promoting the widespread adoption of renewable energy by C&I clients across India. As part of this initiative, Osaka Gas Singapore PTE. LTD. (OGS), a subsidiary of Osaka Gas, has teamed up with the Japan Bank for International Cooperation (JBIC) to invest in the joint venture. The new entity will be named Clean Max Osaka Gas Renewable Energy Private Limited, or CORE.

JBIC plays an important role in this consortium. As a policy-based financial institution wholly owned by the Government of Japan, JBIC brings invaluable financial support and credibility to the venture. In the first phase of this partnership, CORE aims to build and operate renewable energy plants with a total capacity of around 400 MW. It will begin with an initial portfolio of approximately 300 MW. The first set of operations is expected to start in Karnataka, a state known for its potential in renewable energy development.

This partnership will allow Osaka Gas to establish its presence in India’s fast-growing C&I renewable energy market. It will enable some of India’s biggest corporate clients to access clean energy solutions and meet their sustainability targets. Under this joint venture, companies will be able to enter long-term Corporate Power Purchase Agreements (PPAs) to source reliable and scalable renewable energy. These agreements are expected to play an important role in helping businesses lower their carbon emissions and achieve their decarbonization goals.

Kuldeep Jain, Managing Director of CleanMax, said that this partnership fits perfectly with CleanMax’s mission to help corporate India achieve net-zero emissions. He called it a significant milestone in India’s sustainability journey and said the joint venture opens up exciting new opportunities in the C&I energy sector. He also noted that this association will allow CleanMax to expand its network with Japanese and other multinational clients. Additionally, the venture will bring in global capital from JBIC to support CleanMax’s growth plans. Jain emphasized that strategic global collaborations like this can make a real difference and help industries meet their carbon reduction goals.

Keiji Takemori, Representative Director and Executive Vice President of Osaka Gas, also expressed optimism about the partnership. He said they are proud to collaborate with CleanMax, one of India’s leading players in the C&I renewable energy space. Takemori stated that the partnership would enable Osaka Gas to support India’s renewable energy goals and the growing C&I market. He highlighted Osaka Gas’ commitment to reducing CO2 emissions and achieving future carbon neutrality, adding that they look forward to finding more opportunities to work together.

This joint venture between CleanMax and Osaka Gas highlights how international collaborations can help drive India’s clean energy transition. It provides a platform for large businesses to access renewable energy, helping them meet sustainability targets while contributing to India’s broader green energy goals.