CleanMax Commissions 185 MW Hybrid Renewable Project in Gujarat

Clean Max Enviro Energy Solutions Limited has commissioned a 185 MW wind-solar hybrid renewable energy project at Kalavad, Gujarat.

The project integrates solar and wind capacity to provide round-the-clock green energy to corporate customers under a group captive model.

Project Overview

• Location: Kalavad, Gujarat
• Capacity: 185 MW (hybrid)
• Development timeline: ~12 months

Revenue & Impact

• Expected to add ~₹165 crore annually (post stabilization)
• Long-term PPAs ensure stable cash flows
• Contributes significantly to future earnings visibility

Customer Base

• Supplies power to ~17 corporate customers
• Includes companies like Apar Industries & Borosil Renewables

Strategic Importance

• Strengthens Gujarat presence (~844 MW total in state)
• Enhances hybrid energy capabilities
• Supports industrial decarbonization

Environmental Impact

• Offsets ~3.61 lakh tonnes of CO₂ annually
• Equivalent to planting ~20.9 million trees

Key Risks

• Variability in renewable energy generation
• Execution and stabilization delays
• Dependence on PPA performance and customer demand

Worst Case Scenario

Lower-than-expected utilization reduces revenue contribution

Risk Level: Medium

• Gujarat remains a key renewable energy market
• Focus on hybrid solutions for reliable supply
• Strong demand from industrial customers
• Continued expansion in clean energy portfolio