Mumbai-headquartered renewable energy solutions provider Clean Max Enviro Energy Solutions (CleanMax) announced that it secured nearly $575 million to expand its solar and wind projects in India.

The financing will support large-scale, Central Transmission Utility-connected renewable energy projects across Rajasthan and Karnataka. The projects will aggregate nearly 1 GW of renewable energy capacity and serve corporate and industrial customers, including large technology companies.

The company said the financing was secured from domestic and international lenders through External Commercial Borrowings, rupee loans, and Foreign Currency Non-Resident (Bank) facilities.

Clean Max Celestial secured $141.94 million from one of India’s public sector banks under a Foreign Currency Non-Resident (Bank) facility.

Clean Max Tasman secured $124.63 million through an External Commercial Borrowing facility from Societe Generale, BNP Paribas, and SMBC.

VEH Green Energy secured $174 million through External Commercial Borrowing from Credit Agricole, HSBC, and DBS Bank.

CleanMax secured a rupee term loan of ₹6.5 billion (~$67.88 million) from HSBC. Clean Max Atlas secured ₹6.3 billion (~$65.79 million) through a rupee term loan from BNP Paribas and HSBC.

The company said the capital structure aligns borrowing currency with contracted revenues. The financing includes U.S. dollar-denominated loans backed by U.S. dollar-denominated power purchase agreements and rupee-denominated loans backed by rupee-denominated power purchase agreements.

CleanMax’s non-rupee-denominated portfolio is currently financed at an interest rate below 6%.

Kuldeep Jain, Founder and Managing Director of CleanMax, said the multi-lender collaboration would allow projects to be executed at scale while providing renewable energy solutions for the commercial and industrial sector.

Nikunj Ghodawat, the Chief Financial Officer of the company, said the financing structure would help the company align funding across multiple special-purpose vehicles and support predictable cash flows as it expands its renewable energy portfolio for large technology clients.

The company also stated that the renewable energy procurement by digital-age industries, including artificial intelligence, cloud computing, and data centers, is emerging as a key driver of demand for renewable energy in India.

CleanMax was recently upgraded to CARE AA-/Stable by CARE Ratings for its long-term bank facilities and non-convertible debentures.

The company’s contracted renewable energy portfolio reached 5.7 GW in FY 2026. It serves 588 customers across technology, digital infrastructure, manufacturing, and industrial sectors. Data centers and artificial intelligence infrastructure customers account for 42% of its contracted renewable energy sales portfolio.

Recently, Clean Max Enviro Energy Solutions’ income for the fourth quarter of the financial year 2026 rose 29.2% year-over-year to ₹6.40 billion (~$66.90 million), up from ₹4.95 billion (~$51.79 million).

In April this year, Clean Max Enviro Energy Solutions announced that it would supply wind-solar hybrid energy to Shell India’s assets across Gujarat and Karnataka from its 30 MW of projects.