The share price of renewable energy firm Clean Max Enviro rose over 7% in early trade as the company announced partnership with American tech major Meta. Both the companies will collaborate for development of solar and wind capacity across India.
Meta & Clean Max Enviro: Project Details
Clean Max Enviro has announced a 900 megawatt (MW) renewable energy partnership with Meta in India. Under the scope of the project, both the companies will support the development of 837 MW of new solar and wind capacity across the states of Rajasthan and Karnataka.
“CleanMax’s renewable energy projects support Meta’s efforts to add new generation to the grid, advance its goal of matching its electricity use with 100% clean and renewable energy, and will help address Meta’s value chain emissions in the region,” the company said in its press release.
According to Clean Max Enviro’s exchange filing, the partnership now reflects more than 900 MW of renewable energy capacity, and the partnership will comprise large-scale solar and wind projects. Meta will purchase 100% of the environmental attributes from the aforementioned project.
Meta & Clean Max Enviro: Management Commentary
Commenting on the partnership, Amanda Yang, Head of Clean and Renewable Energy, Meta, said: “These agreements represent meaningful progress in supporting our renewable energy goals in the region. We’re pleased to continue working with CleanMax to help bring new renewable energy capacity onto the grid in India and support the growth of the country’s clean energy ecosystem.”
Also reflecting his views on the same, Kuldeep Jain, Founder and Managing Director of Clean Max Enviro Energy Solutions, said, “ We are thrilled to partner with Meta…For us, that infrastructure is increasingly digital, AI-driven and interconnected. It must also be powered by clean energy. We look forward to supporting Meta’s renewable energy ambitions while contributing to India’s clean energy transition.”
Clean Max Enviro share price
Clean Max Enviro’s share price was up 7% in the early trade session. Over the past one month the company’s stock has delivered a return of more than 7%, so far this year its share price has climbed up by a whopping 54%.
