Clean Max Acquires Kintech Solarbikaner To Boost Wind-Solar Hybrid Capacity In Gujarat

Clean Max Enviro Energy Solutions Limited has announced the acquisition of a 100% equity stake in Kintech Solarbikaner Private Limited, marking a strategic move to expand its renewable energy portfolio. The development was disclosed in a regulatory filing dated March 16, 2026, highlighting the company’s continued focus on strengthening its presence in India’s clean energy sector.

The transaction has been executed through a Share Purchase Agreement involving Clean Max, Kintech Synergy Private Limited, and Kintech Solarbikaner. As part of the deal, Clean Max will acquire the entire shareholding of the target company through cash consideration, ensuring full ownership without involving share swaps or alternative payment mechanisms.

Kintech Solarbikaner, incorporated in May 2023 and based in Mumbai, operates in the renewable energy generation space. Although the company has not reported any turnover for the financial years 2024 and 2025, the acquisition is seen as strategically important. Clean Max aims to use this entity as a platform to develop and expand wind-solar hybrid energy projects, particularly in Gujarat, a state known for its strong renewable energy potential.

The enterprise value of the transaction stands at INR 38.06 crore. Clean Max has clarified that the acquisition does not qualify as a related party transaction, as neither the promoters nor promoter group entities have any prior interest in Kintech Solarbikaner. This ensures transparency and aligns with regulatory compliance requirements.

The company expects to complete the acquisition by March 31, 2026. Notably, the transaction does not require any additional governmental or regulatory approvals, which is expected to facilitate a smooth and timely closure.

The regulatory filing, signed by Company Secretary Ullash Parida, confirms that the disclosure has been made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This acquisition reflects Clean Max’s broader strategy to scale up its renewable energy operations and strengthen its position in the wind-solar hybrid segment. By gaining full control of Kintech Solarbikaner, the company secures a dedicated vehicle for project development in Gujarat, enabling faster execution and localized focus.

Overall, the move underscores Clean Max’s commitment to contributing to India’s clean energy transition while enhancing its competitive position in the rapidly growing renewable energy market.