CleanMax Solar raises Rs 275 crore from UK fund

CleanMax Solar, one of India’s largest providers of renewable energy for corporate, has raised Rs. 275 crore in equity funding from UK Climate Investments LLP (UKCI). This is the third marquee institutional investor to support the company’s growth ambitions, having secured equity financing up to Rs. 700 crore from affiliate of Warburg Pincus and the International Finance Corporation in 2017.

CleanMax has a cumulative India market share of 17 per cent in rooftop and nine per cent in open access solar, respectively, as of March 2018 (as per BTI 2018 report).

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