Clean Max Enviro Energy Solutions has announced a significant milestone in its renewable energy operations, achieving an addition of 1.3 gigawatts (GW) of operational capacity within an 11-month period. This achievement underscores the company’s leadership in the commercial and industrial (C&I) renewable energy market in India.
The company, which began its journey in 2010, has now reached a contracted capacity of 6.45 GW, serving over 570 customers. Clean Max Enviro Energy Solutions has recently listed on India’s public markets, marking another significant step in its growth trajectory.
The renewable energy market for C&I consumption in India is vast, with a market size of approximately ₹2.7 lakh crore for power generation alone, and an annual growth forecast of 6-8%. Currently, less than 10% of India’s 750 billion units of annual corporate power consumption is sourced from bilaterally procured renewable energy. Corporates are increasingly turning to green energy solutions to save on energy bills and meet ESG and carbon footprint goals.
Clean Max Enviro Energy Solutions is capitalising on the growing demand for clean energy, particularly from the AI and data centre sectors. The company reports that 42% of its renewable power sales contracted capacity is now dedicated to data and AI customers, with global technology companies making up its largest customer base.
The company follows a mission-driven approach, focusing on being the ‘Net Zero Partner’ for corporates. Its business model includes a diverse range of offerings such as rooftop solar, offsite solar farms, wind and wind-solar hybrids, integrated energy storage, environmental attribute offset deals, and carbon credits trading.
Clean Max Enviro Energy Solutions is also committed to delivering superior capital returns through execution excellence. The company has a proven track record in the C&I sector, maintaining high capital productivity and improving its credit rating from BBB- in 2021 to A+ currently.
Looking ahead, the company has set ambitious goals for the next three years. These include scaling its C&I renewables operations, leading the energy transition for data and AI sectors, building a comprehensive ‘Net Zero’ suite, and advancing capital efficiency.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Arunika Jain and reviewed by Aman Shukla before publication.