CEAT, a multinational tire manufacturing company, will procure renewable energy from 59 MW of wind–solar hybrid power projects under the group captive mode. The project is developed by Clean Max Como and Clean Max Emerald, two special-purpose vehicles (SPV) of CleanMax.

These projects will supply electricity to CEAT’s manufacturing facilities in Halol, Gujarat, and Kanchipuram, Tamil Nadu.

CEAT has entered into share purchase agreements with both SPVs and CleanMax, under which it will subscribe to up to 26% of each entity’s paid-up equity share capital to meet the group captive power requirements.

Under the agreement, CEAT will invest up to ₹195.8 million (~$2.36 million) in Clean Max Como and up to ₹127.5 million (~$1.54 million) in Clean Max Emerald, with investments to be made in one or more tranches through cash consideration.

he completion date for CEAT’s equity subscription in both SPVs is on or before February 15, 2026. The projects are expected to generate around 135.8 million units of renewable electricity annually and raise CEAT’s clean power content to around 60%. The company hopes to become fully reliant on renewable energy by 2030.

Currently, 49.26% of CEAT’s total energy consumption is derived from renewable sources, such as solar, wind, and other non-fossil energy sources. The company’s renewable energy contribution stands at 1.96 million gigajoules (GJ), while targeted energy efficiency initiatives have resulted in savings of 87,157 GJ.

CEAT has also invested ₹215.4 million (~$2.60 million) in energy-saving initiatives during the period.

The company aims to turn net zero by 2050.

CleanMax manages 2.54 GW of operational renewable capacity across India, the Middle East, and Southeast Asia, with an additional 2.53 GW of contracted capacity under execution.

In November 2025, Chemical products manufacturer BASF India announced that it will procure 28,860 MWh of renewable power from a 12.21 MW hybrid wind-solar captive project to be developed jointly with Clean Max Amalfi, a special purpose vehicle of CleanMax, in Jamnagar district, Gujarat.

In the same month, GlaxoSmithKline Pharmaceuticals announced it would source power from a 4.95 MW solar project of Clean Max Galapagos, a special purpose vehicle of CleanMax, in Maharashtra.