ETMarkets Management Talk | CleanMax’s next growth phase: 1.5 GW capacity addition target, Rs 3,000 crore EBITDA by FY28, says Kuldeep Jain
CleanMax targets 1.5 GW capacity additions in FY27 and over Rs 3,000 crore EBITDA by FY28. Growth is driven by data centres, AI, Make in India and manufacturing demand. An AA credit rating and planned Rs 2,500 crore bond issue will strengthen funding access as the company scales its renewable portfolio.
CleanMax, a renewable energy company, has set its sights on a significant growth target for the coming years. Founder and Managing Director Kuldeep Jain announced plans to add 1.5 GW of capacity by FY27 and achieve EBITDA of over ₹3,000 crore by FY28. This represents a substantial increase from the ₹1,280 crore reported in FY26, with growth expected to nearly double.
Jain attributed this optimism to improved execution capabilities and the backing of key demand drivers, such as data centers, AI infrastructure, and the broader Make in India push. Recent upgrades to an AA credit rating and a planned Rs 2,500 crore bond issue could further enhance the company's access to capital as it scales its contracted portfolio.
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