Mumbai-based CleanMax Enviro Energy Solutions and Japan’s Osaka Gas have formed a joint venture, Clean Max Osaka Gas Renewable Energy (CORE), to develop 400 MW of renewable energy projects. The first phase will begin with around 300 MW in Karnataka, offering long-term corporate Power Purchase Agreements (PPAs) for clean energy supply. 

The Japan Bank for International Cooperation (JBIC) has signed a shareholders' agreement with Osaka Gas to invest in the JV, supporting Osaka Gas’ strategy to expand its energy business in India. This aligns with Osaka Gas' broader goal to explore new energy fields like hydrogen and e-methane, alongside its existing city gas supply ventures. 

CleanMax currently operates a 2 GW renewable energy portfolio across India, the Middle East, and Southeast Asia, serving over 550 corporate clients in sectors like automotive, education, pharmaceuticals, FMCG, and IT. In January, CleanMax secured a $27 million credit facility from HSBC to expand its solar projects in the UAE, with additional funding potential for future projects. 

(Mercom)