CleanMax, a renewable energy solution provider to Asia’s Commercial and Industrial (C&I) sector, has announced a strategic joint venture with Osaka Gas Co. Ltd., one of Japan’s premier gas companies. CleanMax, with the backing of Brookfield, and Osaka Gas are partnering to enable businesses to transition to a low-carbon economy.
The partnership combines CleanMax’s decarbonization value with Osaka Gas’ experience in international markets to stimulate the uptake of renewable energy in India’s C&I segments. The venture is also Osaka Gas’s first entry into India’s green energy sector.
Introducing CleanMax Osaka Gas Renewable Energy Private Limited
The joint venture company, CleanMax Osaka Gas Renewable Energy Private Limited (CORE), will concentrate on developing and running renewable power plants in India. A group consisting of Osaka Gas’ affiliate, Osaka Gas Singapore PTE. LTD. (OGS), and the Japan Bank for International Cooperation (JBIC) will invest in the venture. JBIC, which is a policy-based financial institution owned fully by the Japanese government, will give the necessary funds.
During its first phase, the initiative will build renewable energy plants of 400 MW capacity, beginning with 300 MW. This project will allow Osaka Gas to enter India’s growing renewable energy market, focusing on Karnataka’s clean energy potential.
“Kuldeep Jain, Managing Director of CleanMax, said , “This joint venture aligns seamlessly with our vision to enable corporate India to achieve its net-zero ambitions. This marks a remarkable milestone in India’s sustainability journey, offering exciting new opportunities in the C&I energy sector.”
He added,”This association will expand CleanMax’s reach with Japanese and multinational clients, while also tapping into global capital sources like JBIC to fuel our aggressive growth. This reflects how strategic global collaborations can create real impact and enable industries to meet their decarbonization targets.”
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Empowering Indian Corporates with Clean Energy Solutions
The new venture will offer Indian businesses reliable, scalable renewable energy through long-term Corporate Power Purchase Agreements via the grid. This collaboration gives corporate clients direct access to clean energy, helping them achieve decarbonization goals and sustainability targets.