The Indian solar energy company, CleanMax Enviro Energy has received INR 275 crore in the round of equity funding. The UK-based company, UK Climate Investments has invested the sum in the solar energy company.
CleanMax Enviro Energy, which is also known as CleanMax Solar, said that the company will be using the fresh capital to extend its renewable energy business model, as reported by the Indian daily news, VC Circle.
The merger will help to build a wide network of privately-owned solar farms throughout India. Furthermore, it will help the company to develop its two main products namely, open-access solar projects and rooftop solar projects, CleanMax said to the Indian daily news, VC Circle.
The Mumbai-based solar company, CleanMax Solar will enter into new geographical regions namely, Uttar Pradesh, Haryana, Andhra Pradesh and Gujarat, Kuldeep Jain, MD and Founder of CleanMax Solar, told the Indian daily news, VC Circle.
CleanMax marks UK Climate Investments third investment in India and it has so far committed 90 million to the country, Amit Rama, Senior Vice President and Director of CleanMax, told the Indian daily news, VC Circle.
The UK-based investment company, UK Climate Investments is originally a joint venture which is initiated by the UKs governing body and Green Investment Group.