IFC, CleanMax to invest USD 45 mn for clean energy projects in Thailand

New Delhi, Jul 30 (PTI) International Finance Corporation (IFC) has partnered with homegrown CleanMax to invest USD 45 million in its offshore subsidiary for development and refinancing of clean energy projects in Thailand.

The funding will support the development of 35 megawatt-peak (MWp) greenfield solar capacity, refinance 41 MWp of operating solar projects, and increase the commercial and Industrial (C&I) solar capacity in India, according to a joint statement on Wednesday.

"IFC partners with CleanMax to scale solar solutions for Thailand's C&I sector...IFC is investing THB 1,476 million (approximately USD 45 million) in CleanMax Energy (Thailand) Company Limited," Clean Max Enviro Energy Solutions Private Limited (CleanMax) said.

Backed by Brookfield, CleanMax is a leading Indian renewable energy solution provider for the C&I sector.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. PTI ABI ABI SHW