CleanMax raises USD360 million from Brookfield

CleanMax Enviro Energy Solutions Private Limited has raised USD360 million from Brookfield Renewable, through the Brookfield Global Transition Fund.

The funding is a mix of primary and secondary capital and will enable CleanMax to grow its platform to over 5 GW over the next three to four years. Post the transaction, Brookfield Renewable will have a controlling stake in CleanMax, and will work with existing shareholders and management to drive the platform’s growth in the commercial and industrial segment in India. Along with active participation from Brookfield, the company is also looking to explore additional growth avenues in the corporate renewable energy space and to assess and pursue other drivers for value creation.