Clean Max Enviro Energy Solutions raises $575 million for 1 GW solar and wind projects in Rajasthan and Karnataka

Type: Financing · Technology: Solar, Onshore Wind · Country: India · Capacity: 1 GW · Announced: 2026-05-26

Clean Max Enviro Energy Solutions secured $575 million in financing to develop approximately 1 GW of solar and wind projects across Rajasthan and Karnataka, India. The funding package includes external commercial borrowings (ECB), foreign currency non-resident bank (FCNR(B)) facilities, and INR-denominated loans from domestic and international lenders. The financing supports CleanMax's large-scale renewable projects connected to India's central transmission utility (CTU) network, targeting offtake by corporate and industrial customers, including large technology companies. The multi-lender structure aligns financing tenors with asset development to support long-term portfolio stability, with $124.63 million raised via ECB facilities from Societe Generale, BNP Paribas, and SMBC, and $174 million secured through ECB facilities from Credit Agricole, HSBC, and DBS Bank. CleanMax also raised INR 650 crore through an INR term loan from HSBC and INR 630 crore via INR term loans from BNP Paribas and HSBC, with the capital structure strategically aligning borrowing currency with contracted revenues.

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