UK Climate Investments (UKCI) will underpin the development of a nationwide network of solar farms following an agreement to invest £30 million (INR 275 Crores) in one of India’s leading providers of renewable energy for commercial and industrial clients, CleanMax Solar. Founded in Mumbai in 2011, CleanMax Solar pioneered the ‘Energy Sale’ model in India through the development of distributed generation capacity across some the country’s largest cities. Partnering with commercial and industrial (C&I) clients to build new rooftop and ground-mounted solar generation projects, CleanMax Solar enables businesses to access clean, cheaper-than-grid electricity by removing the need for significant upfront capital investment. CleanMax Solar’s innovative business model has seen it quickly grow to become India’s top rooftop installer in 2018 and one of the country’s largest solar developers in the C&I market segment – operating 500 MW of distributed generation capacity across 340 sites. UKCI’s commitment will assist CleanMax Solar as it looks to scale its operations, providing it with the capital needed to expand its network of private solar farms across the country. UKCI is a joint venture between the Green Investment Group and the UK Government’s Department for Business, Energy and Industrial Strategy. UKCI is managed by Macquarie Infrastructure and Real Assets, the world’s largest infrastructure manager.
