CleanMax Commissions 185 MW Wind-Solar Hybrid Project in Gujarat
Clean Max Enviro Energy Solutions Limited, India's major renewable energy solutions provider for the commercial and industrial sector, announced the commissioning of a 185 MW hybrid renewable energy project in Kalavad, Gujarat. This development significantly enhances the company's clean energy portfolio within the state.The integrated solar and wind capacity project, developed over approximately 12 months, now supplies green energy to 17 distinct corporate customers. This addition boosts CleanMax's total operational capacity in Gujarat to approximately 844 MW as of March 31, 2026.
The project operates under a group captive model. This setup involves corporate customers investing equity in the project, adhering to captive rules under the Electricity Act, while simultaneously securing long-term access to clean energy. Publicly listed entities such as Apar Industries Limited and Borosil Renewables Limited are identified as customers of this project.
Mr. Kuldeep Jain, Managing Director of CleanMax, stated that Gujarat is leading India's industrial decarbonization push due to the convergence of clean energy policies, demand, and economics. He noted that the Kalavad facility expands on the company's established experience in the state by placing multiple customers on a single hybrid platform to ensure reliable clean power for round-the-clock business operations.
The expansion is expected to enhance the company's revenue base, with a projected annual contribution upwards of INR ₹16 5 crore in FY2027, once the project stabilizes. Mr. Nikunj Ghodawat, Chief Financial Officer of CleanMax, mentioned that these earnings are backed by 25-year fixed-tariff Power Purchase Agreements (PPAs) with customers, providing clear visibility and stability to cash flows across the project's lifecycle.
The commissioned project is anticipated to offset approximately 3.61 lakh tonnes of CO₂ emissions annually. This environmental benefit is equivalent to the annual planting of nearly 20.9 million trees, contributing to India's decarbonization goals.
The company's operational energy sale capacity across multiple states stood at 3.1 GW as of March 31, 2026. Focusing on the region, the company reported revenue of INR 3,426 million from the state of Gujarat in FY 2024-25, which constituted about 30% of its renewable energy power sale revenue.
CleanMax, which operates across India, the Middle East, and South-East Asia, provides diverse clean energy solutions, including rooftop solar projects, utility-scale solar farms, wind farms, and wind-solar hybrid farms. The company manages a substantial customer base, with data centers and AI accounting for 42% of contracted volumes as of Q3 FY26.
Key operational figures for CleanMax are summarized below:
| Metric | Value | Date/Period |
|---|---|---|
| Operational Energy Sale Capacity | 3.1 GW | As of March 31, 2026 |
| Project Commissioned | 185 MW | Kalavad, Gujarat |
| Estimated Annual Revenue Contribution | Upwards of INR ₹16 5 crore | FY2027 |
| CO₂ Emissions Offset (Annual) | ~3.61 lakh tonnes | Annual |
| Revenue from Gujarat (FY 2024-25) | INR 3,426 million | FY 2024-25 |
CLEANMAX Stock Price Movement
Today, Clean Max Enviro Energy Solutions Limited shares edged higher to settle at ₹844.9, posting a gain of 0.27% in post-market trading. The stock saw considerable activity, with 173,211 shares traded during the session.Source:
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