CleanMax Raises USD 575 Mn to Fund ~1 GW RE Expansion in India

Clean Max Enviro Energy Solutions Ltd. has secured approximately USD 575 million through a multi-lender financing package to develop nearly 1 GW of solar and wind power projects across Rajasthan and Karnataka.

The financing was arranged through a diversified mix of External Commercial Borrowings (ECB), FCNR(B) and INR-denominated loans from leading domestic and international lenders, including HSBC, BNP Paribas, SMBC, DBS Bank, Credit Agricole and other financial institutions.

The funds will be deployed for Central Transmission Utility (CTU)-connected renewable energy projects supplying power to large commercial and industrial customers, particularly technology and digital infrastructure companies.

According to the company, the capital structure aligns currency-linked debt with contracted power purchase agreements, strengthening financial stability across project SPVs. The company noted that the financing reflects continued global lender confidence in India’s renewable energy sector and its expanding corporate clean power demand base.

CleanMax said that the projects are part of its broader strategy to develop high-quality renewable assets for energy-intensive sectors such as data centres, cloud infrastructure and manufacturing.