CleanMax and Osaka Gas have partnered to establish a joint venture (JV) named Clean Max Osaka Gas Renewable Energy (CORE), aiming to own and operate 400 MW of renewable energy capacity in India.

Most of the capacity, around 300 MW, is expected to be commissioned within six months, while the remaining 100 MW will be developed within two years. The total investment for the 300 MW capacity is estimated at around Rs 1,500 crore. The JV is backed by a consortium formed between Osaka Gas’ subsidiary, Osaka Gas Singapore (OGS), and the Japan Bank for International Cooperation (JBIC).

CleanMax Managing Director Kuldeep Jain stated, "After 18 months of conversation, Clean Max, Osaka Gas and JBIC have signed a JV. This JV will own and operate about 400 MW of wind and solar power assets selling to the corporate sector."

The JV will be majority-owned by CleanMax, marking Osaka Gas’ first renewable energy investment in India. For Osaka Gas, it highlights the Group's commitment to supporting India's renewable energy transition and providing clean energy to commercial and industrial customers through long-term corporate power purchase agreements (PPAs).