What is CleanMax?
Founded in 2011 and headquartered in Mumbai, CleanMax Solar specializes in the installation and management of solar energy solutions for business clients. The company operates as a comprehensive renewable energy partner, providing end-to-end services that include project development, financing, and long-term operational maintenance. By focusing on the commercial and industrial (C&I) segment, CleanMax enables corporations to reduce their carbon footprint and energy costs through decentralized solar power plants, effectively bridging the gap between sustainable energy goals and operational efficiency.
How much funding has CleanMax raised?
CleanMax has raised a total of $1.3B across 7 funding rounds:
Private Equity
$108.4M
Private Equity
$15M
Other Financing Round
$34M
Other Financing Round
$360M
Debt
$27M
Other Financing Round
$165.4M
Debt
$575M
Private Equity (2017): $108.4M with participation from Warburg Pincus LLC
Private Equity (2017): $15M led by International Finance Corporation
Other Financing Round (2021): $34M supported by IFU
Other Financing Round (2023): $360M featuring Brookfield Renewable Partners
Debt (2025): $27M backed by HSBC
Other Financing Round (2026): $165.4M with participation from 360 One, Bain Capital, Steadview Capital, and Temasek
Debt (2026): $575M led by HSBC, DBS, Crédit Agricole CIB, SMBC Group, BNP Paribas, and Societe Generale
Key Investors in CleanMax
HSBC
A global banking and financial services organization providing comprehensive international trade and capital flow support.
BNP Paribas
A leading international banking group offering diversified financial solutions, including corporate and institutional banking with a strong focus on sustainable finance.
SMBC Group
A major Japanese global banking institution providing extensive financial solutions and investment support across international markets.
What's next for CleanMax?
With the recent influx of capital, CleanMax is well-positioned to scale its infrastructure footprint and enhance its technological capabilities in renewable energy management. The strategic backing from global financial institutions suggests a focus on expanding its portfolio of solar assets and potentially diversifying into broader sustainable energy solutions. As the company matures, it is expected to leverage its strong institutional partnerships to navigate the complexities of the Indian energy market, focusing on long-term asset performance and the continued decarbonization of the industrial sector.
See full CleanMax company page
