Mumbai-based CleanMax and Toyota Tsusho India (TTIPL) have formed a new entity to develop 300 MW of renewable energy projects by March 2028, to address the clean energy needs of Japanese corporations in India.

The joint venture aims to accelerate renewable energy development and facilitate a nationwide sustainable transition to green energy. It will facilitate clean energy adoption through long-term corporate power purchase agreements tailored for Japanese corporations.

The new entity will provide a range of customized green energy solutions, including rooftop solar installations, ground-mounted solar and wind projects, wind-solar hybrid systems, and carbon credits.

CleanMax provides renewable energy and net-zero solutions for India’s commercial and industrial sector. As of March 31, 2025, it had 2.2 GW of functioning, owned, and managed capacity of renewable assets across India, the Middle East, and Southeast Asia.

Toyota Tsusho has a presence in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region with over 4 GW of renewable energy assets.

Earlier this year, the Japan Bank for International Cooperation signed a shareholders’ agreement with Osaka Gas to invest in a joint venture between the Japanese gas company and Clean Max Enviro Energy Solutions.

In February this year, global e-commerce company Amazon announced the procurement of power from CleanMax’s 100 MW wind project in Koppal.

Earlier, CleanMax entered an agreement to supply power from its 6.6 MW wind and 3.3 MW solar projects for Concord Biotech’s facility at Dholka, Gujarat. Concord would procure the power in captive mode for which it acquired a 26% stake in one of CleanMax’s special purpose vehicles.

Last November, digital infrastructure company Equinix announced its power procurement under a captive arrangement from 33 MW renewable energy projects to be set up by CleanMax to power its data centers in India. The captive power projects to be developed in Maharashtra comprised 26.4 MW of solar and 6.6 MW of wind power.