CleanMax Solar announced the commissioning of a 400 MW wind-solar hybrid facility for its commercial and industrial (C&I) clients in Gujarat. According to the developer, the project was completed in a period of 14 months.The facility consists of 70 wind turbines, 252,010 solar panels, and 133 inverters. It is expected to offset 741,440 metric tonnes of carbon dioxide per year.
In June 2023, Michelin Group, the French tyre company, inked a power purchase agreement with CleanMax Enviro Energy Solutions Private Limited to increase its renewable energy sources at its site. The first long-term open access power purchase agreement would allow the tyre manufacturer to raise its use of renewable energy from 11 per cent to 37 per cent at its facility in Thervoy Kandigai, which is located approximately 45 kilometres west of Chennai in the adjoining Tiruvallur district.
Also, in the same month, CleanMax announced that it has closed an equity fund raise from Brookfield Renewable, through the Brookfield Global Transition Fund. This funding of $360 million, which is a mix of primary and secondary will enable CleanMax to pursue its growth plans of becoming a platform with more than 5 GW capacity over the next three to four years. Through this investment, Brookfield Renewable will have a controlling stake in CleanMax and will work with existing shareholders and management to drive the platform’s growth in the commercial and industrial segment in India.