Renewable Energy Contract

CleanMax and Gujarat Alkalies Partner for 160.24 MW Hybrid Renewable Energy Project in Gujarat

NSE

CLEANMAX

BSE

544717

Clean Max Enviro Energy Solutions Limited has partnered with Gujarat Alkalies and Chemicals Limited (GACL) to supply hybrid renewable energy through a 75.90 MW wind and 84.34 MWp solar project in Gujarat. The project will support GACL’s Dahej and Vadodara manufacturing facilities under a group captive structure and is expected to accelerate industrial decarbonisation while enhancing renewable energy adoption in the chemical manufacturing sector.

PRICE-SENSITIVE TRIGGER

Event: CleanMax signed a renewable energy supply partnership with Gujarat Alkalies and Chemicals Limited for a hybrid wind and solar power project.

Type: Renewable Energy Contract / Industrial Decarbonisation Partnership

Impact: Positive

Immediate Effect: The agreement strengthens CleanMax’s contracted renewable energy portfolio and secures a large industrial customer under a long-term group captive structure while supporting GACL’s sustainability and energy transition goals.

Key Metrics:

Wind Capacity: 75.90 MW
Solar Capacity: 84.34 MWp
Total Hybrid Capacity: 160.24 MW
Expected Annual Clean Energy Generation: ~36.9 crore units
Estimated Annual CO₂ Emission Reduction: ~2,64,204 tonnes
Equivalent Environmental Benefit: Nearly 15.27 million trees annually
Phase 1 Capacity: 16.50 MW wind + 21.701 MWp solar
Phase 2 Capacity: 59.40 MW wind + 62.64 MWp solar
CleanMax Operational Capacity in Gujarat (March 2026): ~844 MW

Highlight:

Project Scale: 160.24 MW hybrid renewable energy project comprising 75.90 MW wind and 84.34 MWp solar capacity

What Happened ?

Clean Max Enviro Energy Solutions Limited announced a partnership with Gujarat Alkalies and Chemicals Limited (GACL) to develop and supply hybrid renewable energy for GACL’s manufacturing operations in Gujarat.

The project will deliver renewable power generated from 75.90 MW of wind capacity and 84.34 MWp of solar capacity under a group captive model. Energy generated from the facilities will be utilized by GACL’s Dahej and Vadodara manufacturing units.

The project is being developed across four renewable energy locations in Gujarat—Kalikanagar, Aji Dahisarda, Rajula, and Ghuntu—and will be executed in two phases in line with agreed contractual timelines.

The partnership represents one of the largest group captive renewable energy arrangements undertaken by CleanMax and supports large-scale industrial decarbonisation initiatives in India.

Key Details

Project Scope and Strategic Significance:

CleanMax will provide hybrid renewable energy to GACL under a group captive structure.
Renewable energy assets will be spread across four locations in Gujarat.
Power generated will be consumed by GACL’s Dahej and Vadodara manufacturing facilities.
The project is designed to support industrial decarbonisation and net-zero transition objectives.
The chlor-alkali manufacturing industry is energy intensive, making renewable integration strategically important for cost efficiency and emissions reduction.
The project will be developed in two implementation phases.
Gujarat remains a key renewable energy market supported by favorable wind and solar resources.
CleanMax’s existing renewable energy infrastructure in Gujarat provides execution capability for large industrial projects.
The partnership is expected to improve energy sustainability and long-term power visibility for GACL.

Note:

According to the company, the agreement represents the largest group captive transaction executed by CleanMax and reinforces its position as a renewable energy solutions provider for industrial customers pursuing net-zero targets.

Risk Analysis

Summary:

While the project strengthens CleanMax’s industrial renewable energy portfolio, execution, commissioning schedules, renewable resource availability, and regulatory developments remain key factors influencing project performance.

Key Risks:

Delays in project development or commissioning could defer energy generation benefits.
Renewable power generation depends on wind and solar resource availability.
Regulatory changes affecting open-access or captive power frameworks may impact economics.
Construction and infrastructure execution risks remain until commissioning.
Industrial demand fluctuations may influence long-term energy consumption patterns.
Grid integration and transmission availability remain operational considerations.

Worst Case Scenario:

Significant delays, regulatory changes, or lower-than-expected generation performance could reduce project returns and postpone anticipated sustainability benefits for both partners.

Risk Level: High

Company Commentary

GACL stated that sustainability remains a core pillar of its long-term growth strategy and that the partnership will strengthen energy reliability while reducing environmental impact.
The company highlighted the importance of renewable energy integration for maintaining operational efficiency within energy-intensive chlor-alkali manufacturing operations.
CleanMax management described the transaction as evidence that large manufacturing companies can transition to renewable energy at scale without compromising operational reliability.
CleanMax indicated that the partnership supports its role as a Net-Zero solutions provider for industrial customers and reflects growing demand for large-scale captive renewable energy solutions.
Management emphasized Gujarat’s strategic importance due to its industrial base and strong renewable energy resources.

Official Exchange Filing: Clean Max Enviro Energy Solutions Limited