Clean Max Enviro Energy Solutions (ECB) — ~$575M Multi-Lender Financing Deal

On June 26, 2026, Clean Max Enviro Energy Solutions Limited announced a ~$575 million multi-lender financing deal to expand its renewable energy projects across Rajasthan and Karnataka. Here are the key details:

Key Highlights of the Announcement:

Financing Structure:

Secured through External Commercial Borrowings (ECB), INR borrowing, and Foreign Currency Non-Resident (Bank) facilities (FCNR(B)).

Involved a diversified lender base of domestic and international banks.

Project Scope:

Funds will support the development of ~1 GW of Central Transmission Utility (CTU)-connected renewable energy projects.

Projects include solar and wind assets aimed at serving the commercial and industrial segment, including large technology companies.

Entities and Funding Breakdown:

Clean Max Celestial Pvt Ltd: Raised $141.94 million via FCNR(B) from an Indian public sector bank.

Clean Max Tasman Pvt Ltd: Raised $124.63 million through ECB facilities from Societe Generale, BNP Paribas, and SMBC.

VEH Green Energy Pvt Ltd: Secured $174 million via ECB financing from Credit Agricole, HSBC, and DBS Bank.

Clean Max Enviro Energy Solutions Ltd: Secured ₹650 crore INR term loan from HSBC.

Clean Max Atlas Pvt Ltd: Raised ₹630 crore INR term loans from BNP Paribas and HSBC.

Currency Alignment:

The financing structure aligns borrowing currency with contracted revenues:

USD-denominated loans backed by USD-linked power purchase agreements (PPAs).

INR-denominated loans backed by INR-based PPAs.

Non-INR denominated portfolio financed at an interest rate below 6%.

Strategic Importance:

Supports large-scale renewable expansion in key states (Rajasthan and Karnataka).

Enhances the company’s ability to serve large technology and industrial customers with renewable energy solutions.

Note: This financing strengthens CleanMax’s position as India’s largest renewable energy solutions provider for the commercial and industrial sector.

📊 Stock Analysis — ECB ✨ Ask AI About ECB

More About ECB

Related Insights

📡 Get AI alerts for your stocks — summarized by AI daily

Set up your AI Radar — pick stocks, get daily email summaries of new filings.

Set up AI Radar — Free

Free account · 2 AI queries/day