CleanMax commissions 185 MW hybrid project in Gujarat
Author: PPD Team Date: April 8, 2026
Clean Max Enviro Energy Solutions Limited has commissioned a 185 MW wind-solar hybrid renewable energy project in Kalavad, Gujarat, taking its total operational capacity in the state to around 844 MW as of March 31, 2026. The project is expected to contribute over Rs 165 crore annually to the company’s revenue once stabilised in FY2027.
Announced on April 7, 2026, the project was developed over approximately 12 months and supplies power to 17 corporate customers under a group captive model. This structure allows participating companies to invest equity in the project in line with captive provisions under the Electricity Act while securing long-term access to renewable energy. Customers include Apar Industries Limited and Borosil Renewables Limited.
The hybrid facility combines solar and wind generation to deliver a more consistent power profile suited for round-the-clock industrial consumption. Once fully operational, the project is expected to offset about 3.61 lakh tonnes of carbon dioxide (CO₂) emissions annually, equivalent to planting nearly 20.9 million trees each year.
Kuldeep Jain, Managing Director of CleanMax, stated that Gujarat continues to see strong momentum in industrial decarbonisation, supported by policy and demand conditions. He noted that the Kalavad project aggregates multiple consumers on a single hybrid platform to provide reliable clean energy for continuous operations.
Nikunj Ghodawat, Chief Financial Officer, said the project is backed by 25-year fixed-tariff power purchase agreements (PPAs), offering long-term revenue visibility and stable cash flows.
In FY2024-25, CleanMax reported revenue of Rs 3,426 million from Gujarat, accounting for around 30% of its renewable energy power sale revenue. Recent regulatory changes in the state have improved access and clarified banking provisions for hybrid power, supporting large-scale project development.
As of March 31, 2026, CleanMax’s total operational energy sale capacity stands at 3.1 GW across multiple states. The company serves more than 570 commercial and industrial (C&I) customers, with data centres and artificial intelligence (AI) accounting for 42% of contracted volumes as of the third quarter of FY26.
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