Journey So Far
It’s been merely 15 years running CleanMax. I grew up in a professional family, did my CA, ICWA, went for an MBA at IIM Ahmedabad, and joined McKinsey & Company. I was there for 12 years and headed McKinsey’s energy consulting work in India. I always wanted to be an entrepreneur and saw sustainability and net zero as a major emerging trend. Once I became a global partner at McKinsey around 2009, I decided to leave and founded CleanMax in January 2011. Our mission from day one has been to be a net zero partner to corporates. We don’t serve governments or utilities — just corporates, who account for more than half of India’s energy consumption and are committed to going green and saving costs, both of which we help them achieve.
CleanMax Success
In any business, two main things matter: catching a big trend early and staying focused. In 2011, we were literally selling the first few rooftop solar PPAs door-to-door. We caught the trend early and stayed focused on the corporate segment. This focus allowed us to expand our products and geographies. We’ve always prioritised hiring and developing great people, and that’s helped us build a strong business. We’re a proud Indian company headquartered in Mumbai, with five to six offices across India. We also operate in the Middle East and Southeast Asia.
Corporate Needs
Corporate needs constantly evolve, but two constants remain: cost savings and the push to get to net zero quickly. Renewables help with both — power is a major part of corporate emissions (Scope 2), and by replacing brown power from the grid with green power, companies save money and reduce emissions. Our approach is: if a company needs something to be net zero, we’ll provide it. We offer rooftop solar for manufacturing facilities and other large-roof sites; open access power, where green power is produced off-site (in the same state) and transmitted to the client’s site via the grid; wind and solar hybrid solutions, and carbon credits, including programmes that generate credits while delivering societal benefits. We’re present in 17 of 25 states. The good news is there’s good sunlight across the country. In India, the Middle East, and Thailand, going green can save over 40% on power costs. The value proposition is so strong that many clients ask why everyone hasn’t already switched.
Rooftop Solar
We love our rooftop business. We have about 1,700 operational rooftop solar power plants, which account for about 20% of our energy sales. It’s often the first step for clients. In Dubai, we have over 100 rooftop solar plants; we recently commissioned our first in Saudi Arabia. The potential is huge.
Hybrid
In a country like India, the complementarity is clear. Wind power peaks during evenings and monsoons, while solar peaks during the day. Together, they cover 85–90% of energy needs. It’s the obvious next step for us — a better solution for clients, and a product that’s winning in the market. We started wind in 2018 and now install over 300 MW annually in states like Maharashtra, Gujarat, Karnataka, and Tamil Nadu.
Carbon Credits Programme
We launched our carbon division about 2–2.5 years ago. One of our most meaningful programmes involves distributing improved cookstoves in poor districts like Gadchiroli in Maharashtra. About a third of Indian households still use firewood for cooking, which leads to high emissions and health issues.
We distribute efficient, cleaner-burning cookstoves, selling them at a subsidised price (Rs 500 for a Rs 2000 stove) to ensure adoption. The carbon credits generated from this initiative are sold to corporates. This programme benefits women’s health, child health, and reduces carbon emissions — a for-profit initiative with social impact.
CleanMax in Next Five Years
Our mission-centric approach has guided us so far. We started with wind projects, then added wind-solar hybrids and carbon credits. We’re now in five countries and continue expanding. India is the world’s third-largest power market, with corporates consuming over 52% of the power. In countries like Thailand, it’s even higher. Corporates can save 35–45% on power costs by going green — it’s the right thing and it’s profitable.
India’s Renewable Journey
India has done very well in its green energy transition. In contrast to developed countries where grid connections can take five–six years, India is much quicker. The government’s move toward a market-based system — where generators can sell to any buyer — is a positive step. We should extend this to households and small businesses, too. More choice leads to faster adoption. For example, farmers today get power at inconvenient hours. With solar, we can offer them daytime power. Letting everyone choose their power source will drive faster, wider adoption.
India’s Net Zero Target
If we let the marketplace decide, we’ll get there faster. Corporates, which account for 50% of demand, will choose the cheaper, greener option if given a choice. Households, which make up about 15–17%, should also be allowed to choose. Farmers, too, can benefit from daytime solar irrigation. We need to make it easy for everyone to opt for green energy — the cost is now low enough to make this feasible.
Message
My message is that big planetary goals like net zero are made up of billions of individual choices. What you choose to consume, how you behave at home or at work — all of it matters. Keep doing what you’re doing.
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