IPO-bound CleanMax to build 200-MW solar project in Andhra Pradesh

Andhra Pradesh clears a 200-MW solar project by CleanMax group firm Yashaswa Power, investing ₹1,200 crore, as the renewable player prepares for its ₹3,100-crore IPO next week

Andhra Pradesh government has approved a 200 MW solar power project to be developed by CleanMax Enviro Energy’s group company Yashaswa Power with an investment of ₹1,200 crore.

 

The company will establish a 200 MW AC solar power park in Beechiganipalle and nearby villages in Sri Sathya Sai district. The project is expected to generate about 445 million units of clean electricity per year, while creating around 690 direct and indirect jobs in the region. Spanning approximately 1,200 acres of primarily private land, the solar plant will connect to the 400/220 kV Hindupur substation.

 

CleanMax Enviro, a commercial and industrial renewable energy provider, is launching a ₹3,100 crore initial public offering (IPO) between 23–25 February 2026, priced in the range of ₹1,000 to ₹1,053 per share and expected to list on the BSE and NSE in early March 2026.

 

 

The IPO comprises a fresh issue of ₹1,200 crore, largely aimed at debt repayment and funding future growth, alongside a ₹1,900 crore offer for sale by existing shareholders, drawing institutional interest from global investors such as Temasek Holdings and SBI Life in anchor rounds.

 

Founded in 2010, the company serves over 550 corporate customers with nearly 2.5 GW of operational capacity and several gigawatts under execution.

 

Andhra Pradesh released its Integrated Clean Energy Policy in 2024 to strengthen the state’s position in large-scale green infrastructure investment.