IFC to invest Rs 1 billion in CleanMax

The International Finance Corporation (IFC), which is the private sector investment arm of the World Bank, is looking to invest about Rs 1 billion in renewable energy company CleanMax Enviro Energy Solutions. The latter will use the proceeds to commission more than 250 MW of solar projects over the next three years and the funding will be used mainly to finance the construction of the proposed greenfield solar projects. The company currently has a solar portfolio of around 55 MW, with  projects in 10 states across the country.

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