United Kingdom (UK) Climate Investments LLP (UKCI), will support CleanMax Solar, a leading rooftop solar developer, with an investment of ₹275 core.
UKCI’s investment will support CleanMax Solar as it expands its renewable energy portfolio – facilitating renewable energy buying for corporates through the construction of a network of private solar farms across India.
UBS Securities India Private Limited was the sole financial advisor to CleanMax on this transaction.
This is the third time that CleanMax Solar has successfully raised equity financing. In November 2017, CleanMax raised ₹964.5 million investment from the International Finance Corporation (IFC).
IFC invested in convertible debentures in of the company. This was the first time IFC acquired an equity stake in a distributed-generation firm.
Corporates are quickly adopting renewables sourcing at scale to achieve the twin benefits of profit improvement and carbon footprint reduction.
This investment, along with the know-how of Macquarie will enable CleanMax to continue being the market leader in B2B solar sector.
The company plans to enhance its portfolio from 500 MW to 2000 MW in the next three years.
UBS Securities India Private Limited was the sole financial advisor to CleanMax on this transaction.
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