CleanMax, Osaka Gas Launch JV for 400 MW Renewable Energy Projects

11 Mar 2025 CW Team

Mumbai-based CleanMax Enviro Energy Solutions and Japan鈥檚 Osaka Gas have formed a joint venture, Clean Max Osaka Gas Renewable Energy (CORE), to develop 400 MW of renewable energy projects. The first phase will begin with around 300 MW in Karnataka, offering long-term corporate Power Purchase Agreements (PPAs) for clean energy supply.

The Japan Bank for International Cooperation (JBIC) has signed a shareholders' agreement with Osaka Gas to invest in the JV, supporting Osaka Gas鈥� strategy to expand its energy business in India. This aligns with Osaka Gas' broader goal to explore new energy fields like hydrogen and e-methane, alongside its existing city gas supply ventures.

CleanMax currently operates a 2 GW renewable energy portfolio across India, the Middle East, and Southeast Asia, serving over 550 corporate clients in sectors like automotive, education, pharmaceuticals, FMCG, and IT. In January, CleanMax secured a $27 million credit facility from HSBC to expand its solar projects in the UAE, with additional funding potential for future projects.

(Mercom)

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