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Case

Air pollution

Energy efficiency

Nature based solutions

+2

Green energy to large companies in India

16. November 2022
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Solution provider

Investment Fund for Developing Countries – IFU

IFU is the Danish Development Finance Institution providing risk capital for private sector investments in developing countries and emerging markets. Investments are made on commercial terms in the form of equity, loans and guarantees. The purpose is to support the green transition and create just and inclusive societies.

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Challenge

India is the third largest consumer of electricity in the world. Today, 60 per cent of the country’s consumption is based on fossil fuel, especially coal.

 

Solution

CleanMax

CleanMax is Asia’s leading renewable energy company in the C&I (commercial and industrial) sector with 1GW of operating renewable assets.

CleanMax operates some of the best managed renewable energy assets including rooftop solar projects, solar farms, wind farms and wind solar hybrid farms.

Read more about CleanMax

IFU has provided financing for CleanMax. The company acts as sustainability partner to leading corporates in Asia, by developing solar and wind projects under the Build Own Operate model by providing renewable electricity under long-term agreements. Currently, CleanMax serves over 150 customers, including Facebook, Adobe, Cargill Foods, Volvo, Tata Group, Mahindra Group, Grasim, MG Motors and others.

Result

The solution offered creates significant savings for end-users and substitutes fossil fuels with renewable energy and thereby reduces CO2-emmissions.