CEAT, a leading Indian tyre manufacturer, has partnered with CleanMax Enviro Energy Solutions Ltd (CleanMax) to develop 59 MW of hybrid wind–solar projects to supply renewable power to its Halol facility in Gujarat and Kanchipuram facility in Tamil Nadu under a group captive model. CleanMax, a Brookfield-backed company, is currently the largest renewable energy provider to India’s commercial and industrial (C&I) sector (as of July 31, 2025) and is also a net-zero and decarbonization solutions provider.
As part of the arrangement, CEAT will invest in Clean Max Como and Clean Max Emerald—special-purpose vehicles (SPVs) established to develop the 59 MW hybrid wind–solar projects in Gujarat and Tamil Nadu—to comply with regulatory requirements related to captive power consumption norms. Accordingly, CEAT has entered into agreements with the SPVs and CleanMax Enviro Energy Solutions (the promoter shareholder of the SPVs) to subscribe to up to 26% of the paid-up equity share capital of each SPV.
The hybrid configuration will combine the complementary generation profiles of wind and solar, ensuring more consistent energy output and a higher plant load factor (PLF). This design also enhances grid stability, which is critical for energy-intensive manufacturing operations.
Collectively, the projects are expected to generate around 13.58 crore units of clean electricity annually, helping to offset around 100,000 tonnes of CO₂ emissions per year—equivalent to the plantation of nearly 4.5 million trees annually. The projects are expected to increase CEAT’s clean power consumption to around 60%.
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