The joint venture, Clean Max Osaka Gas Renewable Energy Private Limited (CORE), will receive investment from Osaka Gas’s subsidiary, Osaka Gas Singapore PTE. LTD. (OGS), and the Japan Bank for International Cooperation (JBIC), a government-backed financial institution.
The partnership is set to develop and operate 400 MW of renewable energy capacity, beginning with an initial portfolio of approximately 300 MW. The first phase of operations will launch in Karnataka, a state with significant renewable energy potential.
Through long-term Corporate Power Purchase Agreements (PPAs), companies across India will gain access to affordable, reliable clean energy, advancing their decarbonization goals.
Kuldeep Jain, Managing Director of CleanMax, emphasized the impact of this collaboration on India’s net-zero ambitions, stating:
"This joint venture aligns seamlessly with our vision to enable corporate India to achieve its net-zero ambitions. By partnering with Osaka Gas and JBIC, we can accelerate our growth and expand our reach among Japanese and multinational clients."
Keiji Takemori, Executive Vice President of Osaka Gas, highlighted the company’s commitment to CO₂ reduction and long-term carbon neutrality, adding:
"This partnership enables Osaka Gas Group to contribute to India’s renewable energy transition while supporting the high-potential C&I market."
CleanMax currently operates 2 GW of renewable energy assets across India, the Middle East, and Southeast Asia. Backed by Brookfield, a global asset manager, the company has pioneered innovative energy solutions, including rooftop solar and wind-solar hybrid farms.
As India moves toward its 2030 net-zero commitments, strategic collaborations like this will play a crucial role in scaling renewable energy adoption in key industrial sectors.
