Press Release titled "CleanMax Secures ~$575 Million Through Multi-Lender transactions for ~1 GW Renewable Projects across Rajasthan and Karnatak
CLEANMAX · price
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CleanMax has raised approximately $575 million from a mix of domestic and international banks to fund about 1 GW of solar and wind projects in Rajasthan and Karnataka. The financing includes foreign currency loans (ECB and FCNR(B)) and INR term loans from banks like HSBC, BNP Paribas, Societe Generale, Credit Agricole, DBS, and others. The projects are CTU-connected and will serve corporate and industrial customers including large tech companies for their renewable energy and net-zero goals. The company was recently upgraded to CARE AA-/Stable rating. CleanMax's contracted portfolio reached 5.7 GW in FY2025-26, with data centres and AI infrastructure customers accounting for 42% of contracted power sales.
This large capital raise signals strong lender confidence in CleanMax's business model and supports significant expansion of its renewable energy capacity. The diversified multi-currency financing structure reduces currency risk, and the credit rating upgrade reflects improved financial health. For shareholders, this positions the company for substantial growth in the high-demand C&I renewable segment.