IFC Invests $45.3M in CleanMax's Thai Solar Expansion

• IFC invests $45.3M in CleanMax to boost Thailand's solar power, marking its first C&I renewable energy venture in the region.

The International Finance Corporation (IFC) is providing USD 45.3 million in debt financing to CleanMax Energy Thailand Company Limited, a subsidiary of Clean Max Enviro Energy Solutions Pvt Ltd, to support solar projects in Thailand. The funding will be used to develop 35-MWp solar projects and refinance 41 MWp of existing photovoltaic assets in the commercial and industrial segment. This marks IFC's first debt investment in a renewable energy developer in Thailand focused on C&I projects.

CleanMax, backed by Brookfield, aims to build a significant renewable energy portfolio in Thailand through this partnership. The company currently operates 2.2 GW of renewable assets across India, the Middle East, and Southeast Asia.

How will IFC's investment impact CleanMax's solar projects in Thailand's C&I sector?

• The IFC's investment will enable CleanMax to expand its solar capacity in Thailand's commercial and industrial (C&I) sector, enhancing the country's renewable energy infrastructure.
• By refinancing 41 MWp of existing photovoltaic assets, CleanMax can optimize its financial resources, allowing for more efficient project execution and potential cost savings.
• The development of 35 MWp of new solar projects will contribute to Thailand's renewable energy targets, supporting the country's transition to a low-carbon economy.
• This investment will likely attract further interest and investment in Thailand's renewable energy sector, potentially leading to more partnerships and collaborations.
• CleanMax's strengthened financial position could lead to increased job creation in the renewable energy sector, boosting local economies.
• The partnership with IFC may enhance CleanMax's reputation and credibility, positioning it as a leading player in the C&I renewable energy market in Southeast Asia.
• The investment aligns with global sustainability goals, promoting clean energy solutions and reducing reliance on fossil fuels in the region.