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Aarti Industries to Procure 16.50 MW Wind-Solar Hybrid Power from CleanMax

Mumbai-based speciality chemicals manufacturer Aarti Industries has partnered with Clean Max Enviro Energy Solutions to procure 16.50 MW of solar-wind hybrid power under a group captive arrangement, investing approximately INR 16.70 crore in the SPV.

March 06, 2025. By Mrinmoy Dey

Mumbai-based speciality chemicals manufacturer Aarti Industries has announced that the company will procure solar-wind hybrid power from Clean Max Enviro Energy Solutions (CleanMax) under a group captive arrangement.

CleanMax has formed a special purpose vehicle (SPV) – Clean Max Indus Pvt. Ltd. to set up a 16.50 MW wind-solar hybrid power plant to cater to the company’s requirements.

Aarti Industries has entered into a Shareholders Agreement for infusing capital of about INR 16.70 crore in the SPV.

The company has significantly increased its RE intake in FY 2023-24 to 17,567 MWh from 590 MWh in FY 2020-21. “FY 2023-24 was a remarkable year for renewable energy. We started sourcing renewable energy from our investment of INR 15.18 crore in a power purchase agreement (PPA) for 13.20 MW of hybrid renewable energy through a group captive model,” stated the company in its Sustainability Report 2023-24.

It further added that this has the potential to reduce CO2 emissions by 38,394 tCO2e per annum. “Encouraged by this, we are further investing in sourcing 13-15 MW of hybrid renewable energy through a group captive model. We are also strengthening our onsite installation of the Solar power plant installation. In the current financial year, we have installed onsite solar power plants at two of the sites, summing up the total capacity of 799 kW. This has generated close to 381 MWh of renewable energy.”

By FY 2028, the company aims to procure 25 percent of its total energy requirement from renewable sources.

Last month, Amazon partnered with CleanMax for a 100 MW wind farm in Karnataka. CleanMax also signed a 25-year PPA with Bangalore International Airport Ltd. (BIAL) for the generation and supply of 45.9 MW solar-wind hybrid power from a captive project.

In December 2024, Ahmedabad-based pharmaceutical company Concord Biotech announced that it would procure 9.9 MW wind-solar hybrid power from CleanMax for its manufacturing plant located at Dholka, Gujarat through a captive arrangement.

Additionally, UltraTech Cement partnered with CleanMax to procure renewable energy in a captive mode from a 55 MW wind-solar hybrid project in Karnataka. Further, Godrej Industries announced that it will procure hybrid renewable energy from CleanMax for its factory located in Valia, Gujarat.

In October 2024, Google announced a collaboration with CleanMax to develop a 125.4 MW hybrid project, consisting of 66 MW of solar generation capacity in Rajasthan and 59.4 MW of wind generation capacity in Karnataka.

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