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CleanMax, which is the largest provider of renewable energy solutions such as rooftop solar to commercial and industrial (C&I) segment, announced equity acquisition by Augment Infrastructure. The US investment firm is acquiring a majority stake in CleanMax for an equity consideration of Rs 1,650 crore.
The company said Augment is purchasing the existing stake of Yellow Bell Investment Ltd (an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing) and International Finance Corporation (IFC) in CleanMax. Augment will also invest primary capital in CleanMax to fund the growth pipeline.
UK Climate Investments (UKCI), which is on the
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