Clean Max Enviro Energy Solutions Ltd
Press Release titled "CleanMax to supply hybrid renewable power to Shell''s LNG terminal and technology centre in India" to be issued by Clean Max Enviro Energy Solutions Limited.
ORDERS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 21 Apr 2026, 08:39 AM IST · BSE ID: 1cabcabe-7398-46ce-93a2-1d3747b7ea57
View Original BSE Filing (PDF)
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In Simple Terms
CleanMax just won a contract to build and operate solar-wind power plants totalling 30 MW to supply electricity to Shell's major facilities in India.
🤖 AI Summary
- CleanMax secures order to supply approximately 30 MW hybrid renewable power to Shell India
- Gujarat project: 16.83 MW hybrid (6.93 MWp solar + 9.90 MW wind) for Shell LNG terminal Hazira
- Karnataka project: 13.2 MW hybrid (9.9 MWp solar + 3.3 MW wind) for Shell Technology Centre Bengaluru
- Group-captive framework with co-investment structure; projects under development
🔢 Key Numbers — exact figures from BSE filing, not rounded
Total hybrid capacity (Gujarat + Karnataka)
approximately 30 MW
Gujarat project hybrid capacity
16.83 MW (6.93 MWp solar + 9.90 MW wind)
Karnataka project hybrid capacity
13.2 MW (9.9 MWp solar + 3.3 MW wind)
🏢 How This Affects the Company
Order expands CleanMax's commercial-industrial client base to include global energy major Shell. Combined 30 MW capacity strengthens presence in hybrid renewable solutions and group-captive model, a growing market segment for C&I solar-wind projects.
Long-term revenue visibility from two major projects under 25-year plus operational framework typical of group-captive PPA arrangements. Exact contract value and commissioning timeline not disclosed in filing.
CleanMax must execute development and commissioning of two hybrid projects across Gujarat and Karnataka geographies simultaneously. Requires solar installation, wind turbine deployment, grid integration, and hybrid control systems.
Project execution risk across two states with different wind-solar resource profiles. Group-captive structure ties cash generation to Shell's actual consumption patterns rather than pure merchant renewable sales.
👥 What This Means For Shareholders
✅
Action Required
No immediate action required. Monitor next quarterly results for revenue recognition schedule and project commissioning updates.
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Who Is Affected
All shareholders benefit from revenue diversification into multinational C&I client base. Long-term equity holders benefit from recurring PPA cash flows once commissioned.
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Management Signal
Management expanding addressable market from small-medium C&I to large multinational corporations. Signals confidence in hybrid renewable technology and group-captive model scalability.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q4 FY26 results earnings call — confirmation of project commissioning timeline and revenue recognition start date
Next quarterly filing — check for updates on Gujarat and Karnataka project development progress and capex deployment
Annual results FY26 — watch for PPA contract details, revenue guidance, and Shell project annual revenue contribution
MEDIUM RISK
Execution risk across two states. Group-captive model revenue dependent on Shell's actual consumption. Contract value and timeline not disclosed.
💡 Investor Takeaway
CleanMax has secured approximately 30 MW hybrid renewable energy contract from Shell India covering LNG terminal in Gujarat and Technology Centre in Bengaluru. Exact revenue and timeline not disclosed. Order validating company's position in commercial-industrial hybrid renewable segment with multinational client base.
⚖️ Strengths & Concerns
✅ Positives
- Major multinational client (Shell) with strong credit profile and long-term commitment to renewable transition and co-investment.
- Hybrid wind-solar configuration optimizes resource utilization across seasons, reducing intermittency risk versus single-source renewable.
⚠️ Concerns
- Filing does not disclose contract value, expected annual revenue, or commissioning timeline for either project.
- Group-captive model revenue depends on Shell's operational needs; revenue not assured if LNG terminal or tech centre utilization declines.
📅 Company Track Record
CleanMax recently commissioned 185 MW Kalavad wind-solar project delivering INR 165 crore FY2027 annual revenue on 25-year fixed PPAs. Company expanded Rajasthan footprint with 30 MWp solar + 20 MW wind + 2 MWh storage deal from Sangam India in April 2026. Shell order represents significant step-up in multinational client acquisition.
Based on publicly available historical data. For context only.