Clean Max Enviro Energy Solutions has successfully raised approximately $575 million to expand its solar and wind projects in India. According to reports from Business Standard, the financing was structured through multiple lenders of domestic and international banks, comprising External Commercial Borrowings (ECB), INR borrowing and Foreign Currency Non-Resident (Bank) (FCNR(B)) facilities.
The funding will support large-scale, Central Transmission Utility (CTU) connected renewable projects across Rajasthan and Karnataka aggregating to a renewable energy portfolio of approximately 1 GW. As reported by Business Standard, these projects reflect CleanMax's focus on long-term, high-quality renewable assets for the corporate and industrial segment for large tech companies.
The transaction includes multiple components with Clean Max Celestial securing $141.94 million from one of India's leading public sector banks under an FCNR(B) facility. According to Business Standard, Clean Max Tasman secured $124.63 million via ECB facility from Societe Generale, BNP Paribas, and SMBC, while Veh Green Energy obtained $174 million through ECB from Credit Agricole, HSBC, and DBS Bank.
The domestic financing included INR 650 crores secured through INR term loan from HSBC for Clean Max Enviro Energy Solutions, and INR 630 crores secured through INR term loan from BNP Paribas and HSBC for Clean Max Atlas. As reported by Business Standard, this comprehensive financing structure demonstrates CleanMax's ability to structure and execute complex, cross-border financings at scale.
The transaction highlights growing confidence among Indian and international lenders across various types of loans in India's renewable energy market. According to Business Standard, the successful completion of this financing demonstrates CleanMax's ability to structure and execute complex, cross-border financings at scale, reflecting the growing institutional support for renewable energy projects in India.
