CleanMax Powers Up: Secures $575M to Build 1 GW of Wind & Solar

CleanMax has raised approximately $575 million through a combination of domestic and international financing to expand its solar and wind energy portfolio across India.

The funding package comprises External Commercial Borrowings (ECB), INR-denominated loans, and Foreign Currency Non-Resident (Bank) [FCNR(B)] facilities, arranged with a consortium of lenders.

The proceeds will be deployed for the development of large-scale renewable energy projects connected to the Central Transmission Utility (CTU) network in Rajasthan and Karnataka, with a combined planned capacity of around 1 gigawatt (GW).

The financing represents a key milestone in CleanMax’s expansion strategy, as demand for utility-scale renewable energy solutions continues to rise in India’s rapidly growing clean energy market.

News by Rahul Yelligetti.