CleanMax Solar was recognized for its pioneering efforts in introducing the ‘Energy Sale’ model, under which any corporate can adopt solar energy in a capex free, risk free and hassle free manner. Under this model, more than 100 corporates have partnered with CleanMax Solar to achieve energy savings upwards of 30-40% relative to grid power.
The turnkey ‘Energy Sale’ solution helps customers to focus on their core business while CleanMax Solar takes responsibility for operating and maintaining the solar power plant to achieve optimum performance. This model has proven to be successful for both on-site solar plants and private solar park projects. This, in turn, helps the corporate reduce cost of electricity while at the same time reducing their carbon footprint.
CFI Magazine’s Clean Energy Award recognizes the highest levels of achievement in the energy and environmental sustainability. Through such award programs, it aims to demonstrate the many ways in which the economies of the world are converging.
On this occasion Andrew Hines, Co-founder, CleanMax Solar mentioned, “We at CleanMax Solar have always believed that given the right solutions, corporates will be leaders in adopting sustainability solutions. Over the last decade, CleanMax has realized the potential of corporates in helping India achieve its renewable targets. We are honoured that our contribution in introducing a viable business model for the growth of solar energy in India has been recognized by CFI Magazine. We will continue to be focused on helping commercial and industrial power consumers achieve their clean energy targets and aspire to be the sustainability partner of choice for all corporates.”
To date, CleanMax Solar has commissioned more than 350 projects for over 100 corporates in India, with a combined operational capacity of 500 MWp. This includes on-site solar capacity of 170 MWp and 330 MWp of grid-connected private solar farms for its corporate consumers. In 2017, CleanMax Solar received a US$ 100 million equity funding from Warburg Pincus, a global private equity firm, and International Finance Corporation (IFC), a member of the World Bank Group. The investment from IFC is the first equity investment globally by the World Bank Group in the distributed generation company.