Shell’s Hazira LNG Terminal and Bengaluru Tech Hub to Run on CleanMax Hybrid Power 

Synopsis: In a marquee client addition, Clean Max Enviro Energy Solutions Limited has announced it will supply hybrid wind-solar power to Shell India’s LNG terminal in Hazira, Gujarat and its technology centre in Bengaluru under the group-captive framework, covering a combined installed capacity of approximately 30 MW across two separate projects.

Shares of India’s largest commercial and industrial renewable energy provider came into focus after the company issued a press release on April 21, 2026 announcing a hybrid wind-solar power supply arrangement with Shell India across two of its key assets, an LNG terminal in Gujarat and a global technology centre in Karnataka. The deal, structured under the group-captive model, covers a combined installed capacity of approximately 30 megawatts and is expected to generate roughly 66,832 MWh of renewable electricity annually.

With a market capitalisation of Rs. 11,679.23 crore, the shares of Clean Max Enviro Energy Solutions Limited were trading at Rs.997.55, down 1.76 percent from its previous close of Rs.1,015.45.

CleanMax is developing two distinct hybrid projects under this arrangement. In Gujarat, a 16.83 MW plant comprising 6.93 MWp of solar and 9.90 MW of wind capacity  will supply power to Shell’s LNG terminal at Hazira, Surat.

The hybrid configuration is designed to address the round-the-clock energy demands of an LNG terminal, where supply intermittency can have operational consequences. In Karnataka, a 13.2 MW hybrid plant (9.9 MWp of solar located in Jagalur and 3.3 MW of wind in Honawad) will power Shell’s Technology Centre in Bengaluru, Shell plc’s third global technology centre and a hub for engineering, digital, and energy systems R&D.

The Shell win is a quality signal rather than a volume driver at this stage. Thirty megawatts is a small increment against CleanMax’s 5.7 GW of operational and contracted renewable capacity as of March 2026. Its more direct significance is client profile: Shell operates energy-intensive, technically demanding assets where supply reliability is non-negotiable. A group-captive arrangement with Shell India, spanning two geographically distinct sites suggests the relationship extends beyond a single transactional PPA.

CleanMax’s broader C&I customer base now exceeds 570, with data centres and AI workloads accounting for 42 percent of contracted volumes as of Q3 FY26. The Shell deal represents a different demand archetype and may open further pipelines in petrochemicals, LNG, and refining, sectors that face growing pressure on scope-2 emissions from international parent companies.

CleanMax’s financial profile reflects the capital-intensive nature of utility-scale renewable development. Revenue grew from Rs. 930 crore in FY23 to Rs. 1,496 crore in FY25, with operating margins expanding to 60 percent. However, the company’s consolidated borrowings stood at Rs. 10,308 crore as of September 2025, up from Rs. 5,570 crore in FY24. This leaves net profit margins thin despite operating-level strength: FY25 PAT was Rs. 19 crore on Rs. 901 crore of operating profit.

Business Overview

Incorporated with over 15 years of operating history, Clean Max Enviro Energy Solutions Limited is India’s largest C&I renewable energy company by contracted capacity, with 5.7 GW operational and contracted across India, the Middle East, and South-East Asia. For H1 FY26 (ended September 2025), the company reported consolidated revenue of Rs. 933 crore and net profit of Rs. 19 crore, against a full-year FY25 PAT of Rs. 19 crore on revenue of Rs. 1,496 crore  a return to annual profitability after a net loss of Rs. 38 crore in FY24.

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