Clean Max Enviro Energy Solutions Ltd
Press Release titled CleanMax Expand its Footprint in Rajasthan to Decarbonize Industrial Operations; Partners with Sangam India Limited for 30 MWp Solar and 20MW Wind Hybrid Renewable Project
ORDERS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 15 Apr 2026, 08:21 AM IST · BSE ID: c80bec0e-bc86-4f05-bda6-a2c62bdf4a12
View Original BSE Filing (PDF)
💡
In Simple Terms
CleanMax signed a deal to supply solar and wind power with battery backup to a major textile company's five factories in Rajasthan.
🤖 AI Summary
- CleanMax wins hybrid renewable supply agreement with Sangam India Limited for 30 MWp solar and 20 MW wind
- Project includes 2 MWh Battery Energy Storage System to supply five Sangam textile facilities across Rajasthan
- Power sourced from CleanMax's Bhikamkor hybrid farm under intra-state group captive structure
- CleanMax holds 525 MW commissioned capacity in Rajasthan as of March 31, 2026
- Company-wide contracted renewable capacity stands at ~5.7 GW with ~3.1 GW commissioned
🔢 Key Numbers — exact figures from BSE filing, not rounded
Solar capacity awarded
30 MWp
Wind capacity awarded
20 MW
Battery Energy Storage System
2 MWh
CleanMax commissioned capacity in Rajasthan (as of March 31, 2026)
525 MW
CleanMax total contracted renewable capacity (as of March 31, 2026)
~5.7 GW
CleanMax commissioned capacity company-wide (as of March 31, 2026)
~3.1 GW
🏢 How This Affects the Company
Expands CleanMax's commercial and industrial renewable customer base and reinforces its position as India's largest renewable energy solutions provider for the C&I sector. Adds to pipeline supporting diverse sectors including manufacturing, technology, and data centres.
Incremental revenue contract from Sangam India facilities; financial terms and contract duration not disclosed in filing. Contributes to company's contracted capacity of ~5.7 GW.
Utilises existing Bhikamkor hybrid farm capacity, leveraging CleanMax's established Rajasthan infrastructure and operational footprint without requiring new asset construction.
Concentrated intra-state group captive structure in single state may increase regulatory and transmission risk. No volume commitments or minimum off-take guarantees disclosed.
👥 What This Means For Shareholders
✅
Action Required
No action required. This is a routine order win announcement.
👤
Who Is Affected
All shareholders benefit from revenue expansion and operational leverage. Contract terms not disclosed, so direct revenue impact per share cannot be calculated.
🔍
Management Signal
CleanMax management confirms continued aggressive expansion in Rajasthan and hybrid renewable solutions capability for industrial decarbonization segment.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Quarterly results filing — confirm revenue recognition and margin impact from Sangam contract
Full-year FY27 results — track total Rajasthan revenue contribution and 525 MW capacity utilization
Contract completion filing — watch for any commercial operation date announcement or milestones achieved
MEDIUM RISK
Intra-state group captive structure limits regulatory flexibility. Contract economics, off-take guarantees, and tenure not disclosed. Single customer concentration risk.
💡 Investor Takeaway
CleanMax secured a hybrid renewable energy contract with Sangam India Limited covering 30 MWp solar, 20 MW wind, and 2 MWh BESS. Company operates 525 MW commissioned capacity in Rajasthan and holds ~5.7 GW contracted capacity with ~3.1 GW already commissioned. Exact contract economics and revenue impact not disclosed.
⚖️ Strengths & Concerns
✅ Positives
- CleanMax expands to 525 MW commissioned capacity in Rajasthan, demonstrating strong state-level operational scale and track record.
- Hybrid solar-wind-storage solution with 2 MWh BESS provides stable round-the-clock power profile for industrial customer reliability.
⚠️ Concerns
- Contract terms, tariff, tenure, and annual revenue not disclosed, limiting investor visibility on deal economics and contribution.
- Sangam partnership uses intra-state group captive — regulatory constraints may limit replicability of this model across other states.
📅 Company Track Record
CleanMax commissioned 185 MW Kalavad wind-solar project on April 7, 2026 with INR 165 crore annualized FY2027 revenue under 25-year fixed PPAs. Company continues rapid capacity expansion across states with focus on C&I segment.
Based on publicly available historical data. For context only.