CleanMax Enviro Energy Expands Renewable Partnership With STT GDC India to Over 130 MW

Synopsis: CleanMax has expanded its partnership with STT GDC India to over 130 MW, adding 21 MWp of solar capacity to power AI-ready data centers in Chennai

Clean Max Enviro Energy Solutions Limited has announced a significant expansion of its renewable energy partnership with STT GDC India, adding 21 MWp of solar capacity to support AI-ready data centres.

This latest agreement, executed through fresh Power Purchase Agreements (PPAs), pushes the total collaboration capacity beyond 130 MW. The expansion specifically targets data centre hubs in Tamil Nadu and Maharashtra, reinforcing CleanMax’s position as a critical infrastructure partner for the high-growth data centre sector.

A unique aspect of this expanded arrangement is the deepened corporate structure; STT GDC India will make a 26% equity investment in the renewable energy project. This shift from a traditional offtake relationship to a co-investment model ensures long-term alignment between the energy provider and the consumer.

The project will augment existing wind-solar hybrid power supplies, providing the round-the-clock, sustainable energy required for hyperscale data centre operations in Chennai and beyond.

The AI and data centre segment has become a massive growth engine for CleanMax, now accounting for approximately 42% of its 5.7 GW contracted portfolio a nearly tenfold increase in just two years.

With an operational capacity of 2,986 MW and a strong EBITDA run rate of ₹1,790 crore, the company is strategically positioned at the intersection of India’s digital and green energy revolutions. Having been listed on the exchanges since August 2025, CleanMax currently maintains a market capitalization of approximately ₹9,577.08 crore.

As of April 1, 2026, CleanMax shares are trading at ₹817.85 up 6.78% on the NSE, recovering from a recent dip after closing at ₹769.70 on March 31. The stock, which was listed on March 2, 2026 (following its February IPO), currently maintains a total market capitalization of approximately ₹9,577.08 crore. This valuation reflects investor response to the company’s massive expansion in the AI and data center sectors.

Despite today’s 6.78% gain, the stock remains below its IPO upper price band of ₹1,053 and its 52-week high of ₹960. Over the past month, the share price has seen a decline of roughly 14.81% as the market continues to stabilize following its high-profile debut.

Looking at the medium-term performance, the stock has faced sustained pressure, dropping approximately 14.84% over the last three months as broader market volatility impacted the renewable sector. 

On a year-on-year basis, CleanMax shares have declined by 22.34%, currently trading significantly lower than their post-listing peak. Trading near its 52-week low of ₹727.10, CleanMax continues to attract interest due to its high-growth trajectory and leading position in India’s commercial renewable energy market.

Company Overview

Founded in 2010, CleanMax is India’s top renewable provider for commercial sectors, transitioning to a public entity in 2025. It manages a 5.7 GW portfolio across Asia and the Middle East, specializing in solar, wind, and hybrid solutions. The firm’s strategic focus on AI and data centers now drives 43% of its contracted volume. 

By delivering round-the-clock power to hyperscale operators, CleanMax stays central to India’s digital and green energy shift. CleanMax’s 5.7 GW portfolio and data center dominance provide a powerful foundation for long-term growth in the renewable sector.

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