Clean Max Enviro Energy Solutions Ltd said on Tuesday, April 7, it has commissioned a 185 megawatt (MW) wind-solar hybrid project in Kalavad, Gujarat, as the renewable energy firm expands its portfolio in one of India’s key industrial states.
The project, developed over about 12 months, will supply power to 17 corporate customers under a group captive model and is expected to add more than ₹165 crore annually to the company’s revenue from FY27, once stabilised, the company said in a regulatory exchange.
The Kalavad facility combines solar and wind capacity to provide a more consistent round-the-clock renewable energy, taking CleanMax’s total operational capacity in Gujarat to about 844 MW. The company’s overall operational energy sale capacity stands at 3.1 gigawatts.
Kuldeep Jain, Managing Director, CleanMax, said, “Gujarat leads India’s industrial decarbonisation push. This is where clean energy policies, demand, and economics line up. We’ve had skin in the game here for years, building and operating assets across the state. Kalavad builds on that experience, bringing multiple customers onto a single hybrid platform to deliver reliable, clean power for businesses that run round the clock.”
Also Read: GAIL inks long-term LNG carrier deal with Alpha Gas to boost shipping
CleanMax said the project is backed by 25-year fixed-tariff power purchase agreements, offering visibility on long-term cash flows. Customers include listed firms such as Apar Industries Ltd. and Borosil Renewables Ltd.
Once fully operational, the project is expected to offset about 361,000 tonnes of carbon dioxide emissions annually, the company added.
Shares of the company closed at ₹843.65 apiece, up 0.27% for the day.
Also Read: SRF flags ₹327 crore tax demand, calls it ‘technical error’, moves ITAT
(Edited by : Shoma Bhattacharjee)
