CleanMax, a commercial and industrial (C&I) renewable energy producer, has entered into a long-term joint venture with Japanese gas major Osaka Gas to help corporate clients in India transition to a low-carbon economy. The joint venture entity will be called Clean Max Osaka Gas Renewable Energy (CORE).
The partnership combines CleanMax’s experience in decarbonizing solutions with Osaka Gas’ global footprint and expertise, driving the large-scale adoption of sustainable energy solutions in India. The association with CleanMax marks Osaka Gas’s entry into the green energy market in India.
As part of this collaboration, a consortium of Osaka Gas arm Osaka Gas Singapore (OGS) and the Japan Bank for International Cooperation (JBIC) will invest in CORE.
JBIC is a policy-based financial institution, with its shares wholly owned by the government of Japan.
The JV aims to build and operate renewable energy plants with a combined capacity of approximately 400 MW in the first phase, starting with an upfront portfolio of 300 MW. This enables Osaka Gas to enter the fast-growing Indian C&I market and partner with some of the largest corporate clients. It will begin operations from the state of Karnataka, a high potential renewable energy market.
Kuldeep Jain, managing director of CleanMax, said, “This association will expand CleanMax’s reach with Japanese and multinational clients, while also tapping into global capital sources like JBIC to fuel our aggressive growth.”
Keiji Takemori, representative director, executive vice president, Osaka Gas, shares, “This partnership will enable Osaka Gas Group to contribute to India’s renewable energy transition while supporting the country’s high-potential C&I market. By aligning with CleanMax, we continue to demonstrate our commitment to reduction of CO2 and future carbon neutrality, and hope to unlock further synergies as we move forward.”
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