Clean Max Enviro Energy Solutions Limited has raised around $575 million to expand its solar and wind portfolio in India.
The financing has been structured through multiple domestic and international lenders. It includes external commercial borrowings, INR loans and foreign currency non-resident (Bank) facilities. The funds will support around 1 GW of Central Transmission Utility connected renewable projects across Rajasthan and Karnataka. The portfolio is aimed at supplying corporate and industrial customers, including large technology companies. The financing has been executed through multiple project entities. These include Clean Max Celestial, Clean Max Tasman, VEH Green Energy and Clean Max Atlas. The company’s non-INR debt portfolio is currently financed at an interest rate below 6 per cent.