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CleanMax to Acquire Kintech Solarbikaner for Rs 38.06 Crore to Expand Hybrid Renewable Portfolio

Clean Max Enviro Energy Solutions has signed an agreement to acquire a 100% stake in Kintech Solarbikaner, aiming to strengthen its wind-solar hybrid capacity, particularly in Gujarat.

Clean Max Enviro Energy Solutions has entered into a share purchase agreement to acquire the entire equity stake in Kintech Solarbikaner Pvt Ltd from Kintech Synergy Pvt Ltd. The transaction, valued at an enterprise value of Rs38.06 crore, will be completed through a cash consideration.

According to the company’s regulatory filing, the acquisition is expected to be finalized by March 31, 2026. The move aligns with CleanMax’s broader strategy to scale its renewable energy portfolio and strengthen its presence in hybrid energy solutions.

Kintech Solarbikaner, incorporated in May 2023, operates in the renewable energy generation space. As of FY25, the company reported no operational revenue and had a net worth of Rs82,690, suggesting it functions as a project-specific special purpose vehicle (SPV) established for upcoming developments.

Through this acquisition, CleanMax aims to accelerate the expansion of its wind-solar hybrid projects, with a particular focus on enhancing capacity in Gujarat. The deal is expected to support the company’s long-term growth plans in the renewable energy sector while strengthening its hybrid project pipeline.