Shares of Clean Max Enviro Energy Solutions surged as much as 15 per cent on Wednesday after the company announced an expanded partnership with Meta Platforms to develop more than 900 MW of renewable energy capacity in India, supporting the technology giant’s growing artificial intelligence and data centre operations.
In an exchange filing, CleanMax said it will develop and operate 837 MW of new solar and wind projects across Rajasthan and Karnataka for Meta. Combined with previously announced projects, the partnership between the two companies now exceeds 900 MW of renewable energy capacity.
Under the agreement, Meta will purchase 100 per cent of the environmental attributes generated by the projects as part of its commitment to match its electricity consumption with renewable energy and reduce emissions across its value chain.
The projects will comprise large-scale solar and wind installations and build on the existing clean energy relationship between the two companies.
The announcement comes alongside Meta’s broader infrastructure expansion plans in India. Earlier on Wednesday, Meta and Reliance Industries unveiled plans for an AI-enabled data centre in Jamnagar, Gujarat. Under that agreement, Reliance will build a 168 MW facility that will be leased by Meta, with scope for future expansion.
Meta said it has now contracted nearly 1 GW of renewable energy capacity in India through agreements with clean energy providers, including CleanMax. The latest deal takes the cumulative renewable energy capacity announced with CleanMax to more than 900 MW.
According to Meta, the Jamnagar data centre will be powered entirely by renewable energy and cooled using desalinated seawater, with the company bearing the full cost of the energy and water required to support the facility.
Commenting on the partnership, CleanMax Founder and Managing Director Kuldeep Jain said the agreement highlights the growing need to power AI-driven and digital infrastructure with clean energy while supporting both Meta’s sustainability goals and India’s energy transition.
Amanda Yang, Head of Clean and Renewable Energy at Meta, said the agreements represent meaningful progress towards the company’s renewable energy objectives in the region and will help add new clean energy capacity to India’s electricity grid.
CleanMax said customers from the data centre and AI infrastructure segment currently account for 42 per cent of its contracted renewable energy power sales portfolio.
The company ended FY26 with a contracted renewable energy portfolio of 5.7 GW, with around 74 per cent of newly contracted capacity coming from existing customers, reflecting strong customer retention and revenue visibility.
CleanMax currently serves 588 customers across sectors including technology, digital infrastructure, manufacturing and industrial businesses.
Following the announcement, shares of CleanMax were trading around 10 per cent higher at Rs 1,355.80. The stock has gained approximately 57 per cent so far in 2026. |
