CleanMax, a leader in providing renewable energy solutions for the commercial and industrial (C&I) sectors, has partnered with Japanese energy giant Osaka Gas to create a long-term joint venture aimed at assisting Indian businesses in transitioning to a low-carbon future. The newly formed entity, Clean Max Osaka Gas Renewable Energy (CORE), will focus on scaling up sustainable energy solutions across the country.
This collaboration brings together CleanMax’s expertise in decarbonization with Osaka Gas’s global experience and reach, paving the way for widespread adoption of renewable energy in India. The venture also marks Osaka Gas’s entry into the Indian green energy market.
A consortium involving Osaka Gas’s subsidiary, Osaka Gas Singapore (OGS), and the Japan Bank for International Cooperation (JBIC) will invest in CORE. JBIC is a government-owned financial institution supporting policy-driven investments.
The joint venture aims to establish renewable energy plants with a total capacity of around 400 MW in its first phase, starting with an initial portfolio of 300 MW. This move will allow Osaka Gas to tap into India’s rapidly growing C&I market, partnering with major corporate clients. The project will kick off in Karnataka, a region with strong renewable energy potential.
Kuldeep Jain, managing director of CleanMax, commented, “This partnership will extend our reach to Japanese and multinational companies, while also attracting global capital from institutions like JBIC to support our ambitious growth plans.”
Keiji Takemori, representative director and executive vice president at Osaka Gas, said, “This collaboration will allow Osaka Gas Group to contribute to India’s transition to renewable energy while supporting the nation’s vibrant C&I market. Our continued focus on CO2 reduction and carbon neutrality aligns perfectly with CleanMax’s mission, and we look forward to further synergies in the future.”
CleanMax is a leading renewable energy provider in Asia’s Commercial & Industrial (C&I) sector, with 2 GW of operational renewable assets and a highly skilled team across India, the Middle East, and Southeast Asia. Backed by Brookfield, a global alternative asset manager with over $1 trillion in assets under management, CleanMax has been at the forefront of sustainable energy solutions.
Pioneering the ‘Energy Sale’ model for rooftop solar in India in 2011, CleanMax is committed to being the preferred sustainability and net-zero partner for businesses. The company manages some of the best-run renewable energy assets, including rooftop solar, solar farms, wind farms, and wind-solar hybrid projects. It has also expanded into renewable energy certificates, catering to over 400 corporate clients.
With numerous companies in India aiming for Net Zero by 2030, CleanMax provides tailored solutions that accelerate their transition to clean energy. Businesses across industries such as data centers, textiles, automotive, chemicals, FMCG, pharmaceuticals, and manufacturing trust CleanMax for their Net Zero goals. The company develops turnkey projects, supplying power through long-term Power Purchase Agreements (PPAs) at competitive rates, often lower than grid tariffs.
CleanMax has earned global recognition, becoming the first Indian company to win the prestigious Transformational Business Awards 2018 by Financial Times (FT) and International Finance Corporation (IFC) in the ‘Transformational Infrastructure’ category. Most recently, it was honored for its Great Indian Sustainable Performance in Net Zero at the 3rd Edition Sustainability Conclave & Awards (2024).
