With a shared commitment to sustainability, CleanMax, one of Asia’s leading
renewable energy providers in the Commercial and Industrial (C&I) sector and a
Brookfield-backed company, announced a long-term strategic joint venture with
Osaka Gas Co. Ltd., a prominent Japanese gas major.
CleanMax and Osaka Gas are forging a partnership to help corporate clients
transition to a low-carbon economy. The C&I sectors are crucial in shaping
India’s energy future. By combining CleanMax’s leadership in decarbonizing
solutions with Osaka Gas’ global footprint and expertise, this collaboration
drives the large-scale adoption of sustainable energy solutions, contributing to
India’s green energy targets. The association with CleanMax also marks Osaka
Gas’s very first entry into the green energy market in India.
As part of this collaboration, a consortium formed between Osaka Gas’
subsidiary, Osaka Gas Singapore PTE. LTD. (OGS) and the Japan Bank for
International Cooperation (JBIC) will be investing in a joint venture partnership
with CleanMax. The joint venture entity will be called ‘Clean Max Osaka Gas
Renewable Energy Private Limited’ (CORE).
JBIC, which plays a key role in the above mentioned consortium, is a policy-based
financial institution, with its shares wholly owned by the government of Japan.
In its first phase, it aims to build and operate renewable energy plants with a
combined capacity of approximately 400 MW in the near future, starting with
an upfront portfolio of ~300 MW. This will enable Osaka Gas to enter the fastgrowing Indian C&I market and partner with some of the largest corporate
clients. It will begin operations from the state of Karnataka, a high potential
renewable energy market.
Further, the initiative enables sustainability-driven companies across India to
run their operations with clean energy under a long-term Corporate Power
Purchase Agreementframework facilitated by the power grid. Corporations thus
gain direct access to reliable and scalable renewable energy, which is crucial for
achieving decarbonization goals.
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. 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."
Keiji Takemori, Representative Director, Executive Vice President, Osaka Gas,
shares," We are proud to join hands with CleanMax, one of India’s leading
players in the C&I sector. This partnership will enable Osaka Gas Group to
contribute to India’s renewable energy transition while supporting the country’s
high-potential C&I market. By aligning with CleanMax, we continue to
demonstrate our commitment to reduction of CO2 and future carbon neutrality,
and hope to unlock further synergies as we move forward."
