CleanMax raises $575M for India RE

CleanMax, an Indian renewable energy solutions provider, has successfully raised approximately $575 million through a multi-lender financing package. This funding, comprising external commercial borrowings, foreign currency non-resident bank facilities, and INR-denominated loans from both domestic and international lenders, will support the development of around 1 GW of solar and wind projects in the Indian states of India — Rajasthan and India — Karnataka. These projects are designed to supply renewable power to commercial and industrial customers, including major technology and digital infrastructure firms like Amazon (company), Apple Inc., Cisco, Shell plc, and Equinix, which are increasingly driving demand for clean energy. The financing structure strategically aligns borrowing currency with contracted revenues, with non-INR-denominated portfolios financed at interest rates below 6%. This investment underscores growing global capital interest in India's corporate decarbonization efforts and its fast-growing clean power market, with CleanMax' contracted renewable energy portfolio reaching 5.7 GW in FY2025-26.