Clean Max shares rally 15% on expanding Meta renewable energy partnership beyond 900 MW

Shares of Clean Max Enviro Energy Solutions Ltd gained as much as 15% on Wednesday, June 10, after the company announced a partnership with Meta Platforms to develop more than 900 MW of renewable energy capacity in India, supporting the tech giant's expanding AI and data centre footprint in the country.

In an exchange filing earlier today, 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 between the two companies, the partnership now exceeds 900 MW of renewable energy capacity.

Under the agreement, Meta will purchase 100% of the environmental attributes generated by these projects as part of its efforts to match its electricity consumption with 100% clean and renewable energy and reduce value-chain emissions in the region.

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The company said the projects will comprise large-scale solar and wind installations and build on an existing relationship between the two firms.

The clean energy agreements are part of a broader expansion of Meta's infrastructure footprint in India. Earlier on Wednesday,

Meta and Reliance Industries announced an agreement for an AI-enabled data centre in Jamnagar, Gujarat, under which Reliance will build a 168 MW facility to be leased by Meta, with scope for future expansion.

Meta said it has contracted nearly 1 GW of new renewable energy capacity in India through agreements with clean energy providers, including CleanMax, which will supply 837 MW of new solar and wind projects across Rajasthan and Karnataka. The latest agreement takes the cumulative renewable energy capacity announced with CleanMax to more than 900 MW.

According to Meta, the Jamnagar data centre will be powered by renewable energy and cooled using desalinated seawater, with the company bearing the full cost of the energy and water supporting the facility.

CleanMax Founder and Managing Director Kuldeep Jain said the partnership reflects the growing need to power digital and AI-driven infrastructure with clean energy and will support both Meta's renewable energy goals and India's energy transition.

Amanda Yang, Head of Clean and Renewable Energy at Meta, said the agreements represent meaningful progress toward the company's renewable energy objectives in the region and will help bring additional clean energy capacity onto India's power grid.

According to CleanMax, customers from the data centre and AI infrastructure segment account for 42% of its contracted renewable energy power sales portfolio.

CleanMax's contracted renewable energy portfolio stood at 5.7 GW in FY26, with around 74% of new contracted capacity coming from existing customers, highlighting strong customer retention and business visibility.

The company currently serves 588 customers across sectors, including technology, digital infrastructure, manufacturing and industrial businesses.

Shares of Clean Max Enviro Energy Solutions are trading 10% higher at ₹1,355.8. The stock has risen 57% so far this year.