This Clean Energy Company Commissions 185 MW Hybrid Project; Equals Planting 20.9 Million Trees

On Tuesday, CleanMax's share price closed at Rs 844.90, up 0.42 per cent from the previous close of Rs 841, following the company’s commissioning of a 185 MW wind-Solar hybrid project in Gujarat.

CleanMax Commissions 185 MW Hybrid Renewable Project in Gujarat; Expands Capacity to 3.1 GW

Clean Max Enviro Energy Solutions has commissioned a 185 MW wind-solar hybrid renewable energy project at Kalavad, Gujarat, marking a further expansion of its clean energy portfolio in a key market.

The project, developed over a period of approximately 12 months, is designed to supply green power to 17 corporate customers under the group captive model. This structure enables customers to invest equity in the project while securing long-term access to renewable energy in compliance with captive power regulations under the Electricity Act. Notably, publicly listed companies such as Apar Industries Limited and Borosil Renewables Limited are among the customers of the project.

The project is also expected to contribute to sustainability goals, with an estimated annual reduction of around 3.61 lakh tonnes of CO₂ emissions, equivalent to planting nearly 20.9 million trees, supporting India’s decarbonisation efforts.

Further, CleanMax’s total operational capacity in Gujarat has increased to around 844 MW as of March 31, 2026, while its overall operational energy sale capacity stood at approximately 3.1 GW, reflecting continued scale-up in its renewable energy portfolio.

CleanMax Management Commentary

Mr Kuldeep Jain, Managing Director, CleanMax, said: “Gujarat leads India’s industrial decarbonisation push. This is where clean energy policies, demand, and economics align. We have had a strong presence in the state for years, building and operating assets across regions. The Kalavad project builds on that experience, bringing multiple customers onto a single hybrid platform to deliver reliable clean power for businesses operating round the clock.”

Mr Nikunj Ghodawat, Chief Financial Officer, CleanMax, added: “The Kalavad expansion, once stabilised, is expected to enhance our revenue base with a contribution of over Rs 165 crore annually in FY2027. Backed by 25-year fixed-tariff PPAs with customers, this provides clear visibility and stability of cash flows over the project lifecycle.”

About Clean Max Enviro Energy Solutions

Clean Max Enviro Energy Solutions Limited is an India-based renewable energy company focused on providing clean and sustainable power solutions to corporate and industrial customers. The company develops, owns, and operates renewable energy assets, including solar, wind, and hybrid projects. CleanMax primarily operates under the group captive and open access model, enabling businesses to procure green power while optimising energy costs and meeting sustainability goals.

With a customer base of over 570 corporates, the company holds a leading position among C&I renewable energy players in India. Notably, data centres and AI-driven businesses account for approximately 42 per cent of its contracted volumes as of Q3 FY26, highlighting strong demand from high-growth sectors.

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Disclaimer: The article is for informational purposes only and not investment advice.