Mumbai-based renewable energy firm CleanMax Enviro Energy Solutions (CleanMax) has sealed a landmark 25-year power purchase agreement with Bangalore International Airport (BIAL), marking a significant stride in sustainable energy initiatives.
Under the agreement, CleanMax will provide power from a 45.9 MW solar-wind captive power project located in Jagaluru, Karnataka. Operated through the special purpose vehicle (SPV) named Clean Max BIAL Renewable Energy, the project integrates 36 MW of solar power with 9.9 MW of wind power, ensuring a continuous and reliable energy supply.
Expected to generate approximately 90 million units of energy annually, the project aims to meet the airport's growing power demands. It will deliver approximately 58.3 million units of solar power and 31 million units of wind power each year, utilizing existing grid infrastructure.
The environmental impact is substantial, with projections indicating a reduction of around 64,200 metric tonnes of CO2 emissions annually, through the generation of approximately 90 GWh of renewable energy.
Hari Marar, Managing Director & Chief Executive Officer of BIAL, highlighted the significance of the agreement, stating, ?The long-term power purchase agreement with CleanMax will play an important role in meeting the renewable energy needs for the expansion program of the airport and provide substantial cost savings, further bolstering our commitment to sustainability and responsible growth.?
Kuldeep Jain, Founder and Managing Director of CleanMax, emphasized the company's dedication to sustainability, noting, ?Our collaboration with BIAL signifies a conscious leap towards clean energy adoption in India's aviation sector, showcasing our expertise in crafting innovative solutions for our corporate clients.?
This agreement follows CleanMax's recent equity fund raise of approximately $360 million from Brookfield Renewable and its partnership with global internet giant Meta to invest in new renewable energy projects in India, further solidifying its position as a leader in corporate sustainability initiatives.
As both companies move forward with their commitment to renewable energy, the partnership between CleanMax and BIAL sets a promising example for sustainable development in the aviation industry and beyond.
