IFC invests $15 million in CleanMax Solar

International Finance Corporation (IFC) has made an equity investment of $15 million in CleanMax Solar.

This is IFC’s first equity investment globally in grid-connected distributed generation.

This investment by IFC is in conjunction with the $100m investment made by Warburg Pincus, a global private equity fund, in CleanMax earlier this year. CleanMax will deploy the funds to continue its rapid growth in the corporate segment of India’s solar market.

Kuldeep Jain, Founder and Managing Director of CleanMax Solar commented, “IFC is a global leader in clean energy investment, and CleanMax is honored to be their first investment globally in grid connected distributed generation.