IPO-Bound CleanMax to Invest ₹1,200 Cr in 200 MW AP Solar Park

In a significant stride for lan energy and investment momentum, the Government of Andhra Pradesh has cleared a 200 MW Solar Power Park to be developed by Yashaswa Power LLP, a group company of Clean Max Enviro Energy Solutions Pvt Ltd, which is launching a Rs 3,100-crore mainboard IPO.

The project, entailing an investment of Rs 1,200 crore, will set up a 200 MW AC/300 MWp DC solar park at Beechiganipalle and adjoining villages in Parigi Mandal of Sri Sathya Sai district, officials said.

The facility is expected to generate around 445 million units of clean power annually and create nearly 690 direct and indirect jobs.

Spread across about 1,200 acres of predominantly private land, the park will be connected to the 400/220 kV APTRANSCO Hindupur substation, ensuring grid stability and long-term power evacuation.

CleanMax, one of India's largest commercial and industrial renewable energy platforms, provides green energy and net-zero decarbonisation solutions to over 550 corporate clients. The company has an operational portfolio of about 2.5 GW spanning solar, wind and hybrid assets, with additional capacity under execution.

The company's Rs 3,100-crore IPO, open from February 23-25, comprises a fresh issue of Rs 1,200 crore and an offer for sale of Rs 1,900 crore by existing shareholders.

The price band has been set at Rs 1,000-1,053 per share, with listing proposed on the BSE and the NSE in early March. The issue has drawn anchor participation from institutional investors, including Temasek Holdings and SBI Life Insurance.

The Andhra Pradesh government said the investment aligns with the state's clean energy push and is expected to spur further private capital inflows, strengthen industrial decarbonisation efforts, and reinforce the state’s position as a preferred destination for large-scale renewable energy projects.

Founded in 2010, CleanMax's IPO is among the largest renewable energy public offerings in India's equity markets this year, reflecting investor confidence in clean infrastructure and the nation's transition to sustainable power.