Whalesbook
The Kalavad facility uses an innovative hybrid design, combining wind and solar power to provide a more consistent, round-the-clock renewable energy supply. This project highlights Gujarat's leading role in India's industrial decarbonization efforts. Managing Director Kuldeep Jain noted that Gujarat's strong clean energy policies, high industrial demand, and favorable economics make it an ideal place for these investments. CleanMax has a long history in Gujarat, building and operating a significant portfolio of energy assets statewide.
Serving Clients and Boosting Revenue
The project is structured to serve 17 corporate clients under a group captive model, ensuring they receive reliable power for their operations. Once operational, this venture is projected to add over ₹165 crore annually to CleanMax's revenue starting in fiscal year 2027. These commitments are secured by 25-year fixed-tariff power purchase agreements, providing strong visibility into future cash flows and reducing market risk.
Environmental Impact and Market Growth
Key clients benefiting from this dedicated clean energy include publicly listed companies like Apar Industries Ltd. and Borosil Renewables Ltd. The Kalavad project will also make a significant environmental contribution, projected to offset about 361,000 tonnes of carbon dioxide emissions annually. This aligns with national and global goals to reduce greenhouse gas emissions. CleanMax's total operational energy sales capacity is now 3.1 gigawatts, with its Gujarat capacity reaching 844 MW, showing significant growth.