CleanMax reports 33% EBITDA growth, crosses 3 GW capacity

CleanMax Enviro Energy Solutions Limited reported consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 945 crore for the first nine months of FY26, a 33% increase from Rs 709 crore in the same period last year. The company also crossed 3 GW of commissioned capacity, alongside announcing a board change and a project acquisition.

Capacity and performance
Commissioned capacity reached 3.0 GW as of March 1, 2026, up from 1.7 GW at the start of the fiscal year. The company added 1.3 GW during the first eleven months across solar and wind projects in seven states.

Total contracted capacity stands at 5.7 GW, with 2.7 GW expected to be commissioned over the next 24 months. The data and artificial intelligence (AI) segment now accounts for 42% of contracted capacity, reflecting significant growth over the past two years.

Profit after tax (PAT) for the nine-month period was Rs 40 crore, compared to Rs 2 crore in the corresponding period last year.

Acquisition and board change
On March 16, 2026, CleanMax signed a share purchase agreement to acquire 100% of Kintech Solarbikaner Private Limited for an enterprise value of Rs 38.06 crore. The entity holds 49.5 MW of wind and 42.4 MW of solar capacity in Gujarat. The transaction is expected to close by March 31, 2026.

Independent Director Arijit Basu resigned following his appointment as Chairman of IndusInd Bank, in line with Reserve Bank of India (RBI) norms that restrict bank directors from serving on borrower company boards. He has been replaced by Dinesh Khara, former Chairman of State Bank of India, who will also serve as Lead Independent Director with oversight of board performance and investor engagement.

The featured photograph is for representation only.