CleanMax-GACL Renewable Energy Deal; Shares Rise 2.92%

Mumbai, June 4: Clean Max Enviro Energy Solutions has secured one of its larger industrial renewable energy partnerships, signing an agreement with Gujarat Alkalies and Chemicals Ltd (GACL) to supply power from a hybrid wind-solar project in Gujarat.

The project combines 75.90 MW of wind capacity and 84.34 MWp of solar capacity, taking the total renewable energy capacity involved to more than 160 MW. The electricity generated will be used by GACL’s manufacturing facilities under a captive consumption structure.

For CleanMax, the deal is another example of how large industrial companies are increasingly turning to renewable energy not just for sustainability goals, but also to improve long-term energy cost visibility.

The project will be developed across four renewable energy sites in Gujarat, namely Kalinagar, Aji Dahisarda, Rajula and Ghuntu. Once operational, the facilities are expected to generate nearly 36.9 crore units of clean power annually.

According to the companies, the project could reduce carbon emissions by around 264,000 tonnes every year, underscoring the growing role of renewable energy in decarbonising India’s industrial sector.

Stock Market Snapshot

Investors responded positively to the announcement, helping the stock finish higher.

As of 3:30 PM IST on June 3, 2026, CleanMax shares were trading at ₹1,156.60, up 2.92% or ₹32.80 from the previous close of ₹1,123.80.

The CleanMax share price recovered from early-session weakness and steadily moved higher through the afternoon, touching its strongest levels near the market close.

The market reaction reflects growing investor confidence in the company’s ability to secure large corporate renewable energy contracts, an area that continues to witness robust demand as industries accelerate their clean-energy transition plans.

Why The Deal Matters

The significance of the partnership extends beyond the headline capacity numbers.

GACL operates in the chlor-alkali industry, one of the most electricity-intensive manufacturing sectors in the country. For such businesses, access to stable and lower-cost renewable energy can have a meaningful impact on operating costs over time.

For CleanMax, the project further strengthens its position in the commercial and industrial renewable energy market, where companies increasingly prefer long-term renewable power arrangements instead of relying solely on conventional grid electricity.

The agreement also highlights Gujarat’s growing importance as a renewable energy hub. Strong wind resources, abundant solar potential and favourable open-access policies have made the state one of the most active markets for industrial clean-energy projects.

Company Background

Clean Max Enviro Energy Solutions is India’s largest pure-play commercial and industrial renewable energy company, with more than 15 years of operating history.

The company reported a contracted renewable energy portfolio of 5.7 GW in FY26 and serves hundreds of customers across technology, manufacturing, data centres, pharmaceuticals and industrial sectors.

Its client roster includes several global and Indian corporations that are increasingly seeking renewable power solutions to meet sustainability commitments while reducing energy costs.

Conclusion

The GACL partnership reinforces CleanMax’s position as a key provider of renewable energy solutions for industrial customers.

Beyond adding another marquee client, the project showcases the growing shift among Indian manufacturers towards hybrid renewable energy systems. Investors appeared to view the development positively, sending the stock nearly 3% higher as the market assessed the long-term growth potential of CleanMax’s expanding project pipeline.

Source:

• https://www.nseindia.com/get-quote/equity/CLEANMAX/Clean-Max-Enviro-Energy-Solutions-Limited
• https://nsearchives.nseindia.com/corporate/CLEANMAX_03062026102622_FinalPRGACL.pdf