Cummins India has said it will procure renewable electricity from upcoming solar and wind hybrid power projects being developed by Clean Max Enviro Energy Solutions in Maharashtra under a group captive arrangement, reports Energetica India.
In a regulatory filing, the company said its Board of Directors has approved a proposal to invest up to ₹2.70 crore in Clean Max Yellowstone, a special purpose company set up for the project. The investment will give Cummins India a minimum stake of 8.78% in the company, to be acquired in one or more stages.
The filing added that the investment will be made along with two other Cummins group companies in India. Together, the three entities will hold at least 26% of the equity in the project company, in line with rules governing group captive power plants. Cummins India and CleanMax have also signed a share purchase agreement for the transaction.
CleanMax will set up off-site captive solar, wind or hybrid power plants in Maharashtra and supply electricity generated from these facilities to Cummins under the captive model.
According to Cummins India’s Business Responsibility and Sustainability Report, renewable sources accounted for 10.57% of the company’s total energy consumption in the 2024–25 financial year.
The company’s Sustainability Progress Report for 2024–25 said Cummins continues to expand its renewable energy footprint. It currently has on-site solar installations at 66 locations worldwide. During 2024, the company completed 21 new on-site solar projects, adding to its global solar capacity. Cummins has also supported the expansion of the Meadow Lake Wind Farm in northwest Indiana through a 15-year virtual power purchase agreement. The report said renewable energy generation and purchases helped reduce the company’s emissions by 136,724 metric tonnes of carbon dioxide equivalent in 2024.
Last month, BASF India announced a partnership with CleanMax to source power from a 12.21 MW wind-solar hybrid captive project in Gujarat. CleanMax has also entered into a power supply agreement with Equinix for electricity from a 26.4 MWp solar plant under a group captive structure.
