+
IFC Invests $45 Million in CleanMax Thailand for Industrial Solar Expansion
POWER & RENEWABLE ENERGY

IFC Invests $45 Million in CleanMax Thailand for Industrial Solar Expansion

The International Finance Corporation (IFC) has announced a debt investment of THB 1,476 million (approximately USD 45 million) in CleanMax Energy (Thailand) Company Limited, a subsidiary of India-based Clean Max Enviro Energy Solutions Pvt. Ltd. (CleanMax). The investment aims to enhance clean energy access for industrial users in Thailand.

This marks IFC’s first debt financing in Thailand exclusively targeting the commercial and industrial (C&I) solar segment. The funds will support the development of 35 MWp of new solar capacity, refinance 41 MWp of existing assets, and help accelerate the growth of Thailand’s distributed solar generation market for industrial consumers.

CleanMax, backed by global asset manager Brookfield, is a leading provider of net-zero energy solutions for C&I customers in India and Southeast Asia.

“CleanMax aims to expand clean and accessible green energy across key sectors by establishing a further presence in Thailand,” said Kuldeep Jain, Managing Director, CleanMax. “Through our partnership with IFC, we will build a sizeable portfolio, attract interest from commercial lenders, and contribute meaningfully to renewable energy asset development in the region.”

Riccardo Puliti, Regional Vice President for Asia and the Pacific at IFC, noted, “IFC’s financing will help CleanMax, a leading Indian private player, expand its operations in line with growing demand. The project supports Thailand’s efforts to boost competitiveness in distributed generation and expand renewable energy solutions.”

As Thailand transitions to a more diversified energy mix, on-site solar systems for industrial use are gaining traction, offering cost-effective alternatives to grid electricity. According to IFC, the C&I solar market in Thailand could triple over the next decade, reflecting strong sectoral growth potential.

This investment builds on IFC’s long-standing association with CleanMax. In 2017, IFC became one of the company’s earliest institutional investors with over USD 10 million in equity, joining Warburg Pincus to support its early expansion.

The latest funding underscores IFC’s continued commitment to supporting clean energy innovation in emerging markets and enabling private sector-led solutions to meet the growing energy demand sustainably.

New source: Solar Quarter

The International Finance Corporation (IFC) has announced a debt investment of THB 1,476 million (approximately USD 45 million) in CleanMax Energy (Thailand) Company Limited, a subsidiary of India-based Clean Max Enviro Energy Solutions Pvt. Ltd. (CleanMax). The investment aims to enhance clean energy access for industrial users in Thailand.This marks IFC’s first debt financing in Thailand exclusively targeting the commercial and industrial (C&I) solar segment. The funds will support the development of 35 MWp of new solar capacity, refinance 41 MWp of existing assets, and help accelerate the growth of Thailand’s distributed solar generation market for industrial consumers.CleanMax, backed by global asset manager Brookfield, is a leading provider of net-zero energy solutions for C&I customers in India and Southeast Asia.“CleanMax aims to expand clean and accessible green energy across key sectors by establishing a further presence in Thailand,” said Kuldeep Jain, Managing Director, CleanMax. “Through our partnership with IFC, we will build a sizeable portfolio, attract interest from commercial lenders, and contribute meaningfully to renewable energy asset development in the region.”Riccardo Puliti, Regional Vice President for Asia and the Pacific at IFC, noted, “IFC’s financing will help CleanMax, a leading Indian private player, expand its operations in line with growing demand. The project supports Thailand’s efforts to boost competitiveness in distributed generation and expand renewable energy solutions.”As Thailand transitions to a more diversified energy mix, on-site solar systems for industrial use are gaining traction, offering cost-effective alternatives to grid electricity. According to IFC, the C&I solar market in Thailand could triple over the next decade, reflecting strong sectoral growth potential.This investment builds on IFC’s long-standing association with CleanMax. In 2017, IFC became one of the company’s earliest institutional investors with over USD 10 million in equity, joining Warburg Pincus to support its early expansion.The latest funding underscores IFC’s continued commitment to supporting clean energy innovation in emerging markets and enabling private sector-led solutions to meet the growing energy demand sustainably.New source: Solar Quarter

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?