CleanMax Solar raises $100 million from Warburg Pincus

New York-based private equity firm, Warburg Pincus has invested Rs 6.5 billion in CleanMax Solar. The funds will be used by  CleanMax Solar to expand its footprint in the solar rooftop and open access markets in India, the Middle East and Southeast Asia. Currently, CleanMax is reported to have a market share of 3 per cent (1,341 MW of capacity as of March 2017) in the open access solar market in India.