Mumbai-based packaging solutions company TCPL Packaging has acquired a 26% stake in Clean Max Hana to source power from the company’s 3.05 MW solar project in Uttarakhand under a captive arrangement.

TCPL has invested ₹10.9 million (~$118,652) to acquire the stake in Clean Max Hana.

Clean Max Hana is a special-purpose vehicle of CleanMax.

TCPL manufactures folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging. It also produces printed cork-tipping papers, laminates, sleeves, and wrap-around labels.

In the financial year (FY) 2025, TCPL increased its procurement of renewable energy by 50%.

Its renewable energy consumption rose from 6,590 GJ in FY 2023 to 7,172 GJ in FY 2024. In FY 2025, the company’s renewable energy use reached 10,739 GJ.

Throughout the year, all of its facilities were equipped with rooftop solar installations, which contributed up to 5% of their total energy consumption.

The rooftop solar project at its Goa facility generated over 1 million power units annually, and its Guwahati facility has a 561 kW rooftop solar installation.

The company’s total rooftop solar capacity increased to 4,516 kW in FY 2025.

In FY 2025, it utilized 83% of capital expenditure towards technologies and infrastructure supporting environmental and social goals, including renewable energy projects.

Rooftop solar power installations were completed in Silvassa, Goa, and Haridwar, supplying 15% of their energy requirements.

As of FY 2025, the company meets 6% of its electricity needs through renewable sources.

Commercial and industrial consumers are increasingly shifting to renewable energy to reduce power expenditure against rising grid tariffs.

Mercom India hosts a multi-city C&I Clean Energy Meet series, bringing renewable energy developers, consumers, lenders, and other stakeholders together to discuss viable options for renewable energy sourcing. The next Mercom India C&I Clean Energy Meet event will be held in Bhopal on March 13, 2026.