CleanMax and Osaka Gas Launch Joint Venture to Develop 400 MW Renewable Energy in India

Brookfield-backed CleanMax and Japan’s Osaka Gas have formed a joint venture, CleanMax Osaka Gas Renewable Energy (CORE), to expand India’s green energy sector. The partnership will focus on wind-solar hybrid solutions, starting with a 400 MW portfolio in Karnataka.

The first phase includes 300 MW operational within six months with a Rs 1,500 crore investment, while an additional 100 MW will follow in two years. CleanMax will hold a majority stake, leveraging its engineering expertise.

Osaka Gas Singapore and JBIC are backing the initiative, marking Osaka Gas’ entry into India’s renewables market. CleanMax already operates in Tamil Nadu, Maharashtra, Gujarat, and internationally in Thailand, the Middle East, and Saudi Arabia. Expansion beyond Karnataka is also under consideration.

CleanMax and Osaka Gas Launch Joint Venture to Develop 400 MW Renewable Energy in India

Brookfield-backed CleanMax, a leading renewable energy firm, has entered into a strategic partnership with Japanese energy company Osaka Gas to establish a joint venture that will help accelerate India’s green energy transition. The collaboration aims to cater to the growing energy needs of corporate clients across the country.

The newly formed entity, CleanMax Osaka Gas Renewable Energy (CORE), is set to focus on wind-solar hybrid solutions. Its first major project is a 400-megawatt (MW) portfolio in Karnataka, a state known for its strong industrial base and demand for renewable energy.

Project Scope and Investment

The initial phase of the project involves the implementation of 300 MW of operational capacity within the next six months, backed by a total investment of Rs 1,500 crore. Following this, an additional 100 MW is expected to be developed within two years, reinforcing the joint venture’s commitment to India’s renewable energy sector.

According to Kuldeep Jain, Managing Director of CleanMax, the renewable energy sector demands significant capital investments. As a result, one of the primary goals of the joint venture is to ensure efficient capital allocation to maximize the impact of their projects. CORE will be majority-owned by CleanMax, with a governance structure that includes representatives from both CleanMax and Osaka Gas.

Jain also highlighted that CORE will leverage CleanMax’s expertise in engineering and project implementation, particularly in Karnataka, where the company has already established a strong presence.

Why Karnataka?

Karnataka has emerged as CleanMax’s largest market, largely due to its thriving technology sector, cement industries, and other energy-intensive businesses. Jain emphasized that the state’s economic strength and business-friendly environment make it a strategic location for the 400 MW wind-solar hybrid project.

While Karnataka remains the focal point of the initial rollout, the joint venture is open to expanding into other regions in the future as the demand for renewable energy solutions continues to rise across India.

Strategic Backing and Global Expansion

The initiative is being supported by Osaka Gas Singapore, a subsidiary of Osaka Gas, and the Japan Bank for International Cooperation (JBIC). This partnership marks Osaka Gas’ first major investment in India’s renewable energy sector, reflecting Japan’s increasing interest in sustainable energy projects in emerging markets.

Founded in 2011, CleanMax has established itself as a key player in India’s renewable energy landscape. The company currently operates wind-solar hybrid projects across multiple states, including Tamil Nadu, Maharashtra, and Gujarat. Additionally, CleanMax provides off-site energy solutions in Haryana, Uttarakhand, Chhattisgarh, and Andhra Pradesh, catering to industries that require sustainable power sources.

Beyond India, CleanMax has expanded its footprint into international markets, including Thailand, Bahrain, Dubai, Abu Dhabi, and Saudi Arabia, demonstrating its ability to scale operations and drive renewable energy adoption globally.

A Step Towards India’s Green Transition

As India continues to ramp up its renewable energy capacity, partnerships like CleanMax and Osaka Gas’ CORE are expected to play a pivotal role in achieving sustainability goals. By combining CleanMax’s operational expertise with Osaka Gas’ financial strength and international backing, CORE is well-positioned to drive innovation in wind-solar hybrid solutions and contribute significantly to India’s corporate renewable energy sector.

With ambitious plans for future expansion, this joint venture represents a major milestone in India’s transition toward cleaner energy sources while also reinforcing international collaboration in the renewable energy space.