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

01 Aug 2025 CW Team

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

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..