Powering Thailand’s Green Future: CleanMax and IFC Drive Solar Growth

CleanMax Secures $45 Mn from IFC to Boost C&I Solar Projects in Thailand

CleanMax Energy (Thailand), a subsidiary of Brookfield-backed Indian firm CleanMax Enviro Energy, has secured $45 million in funding from the International Finance Corporation (IFC) to scale solar energy solutions in Thailand’s commercial and industrial (C&I) sector. The investment will support the development of 35 MWp greenfield solar projects and refinance 41 MWp of operational assets. This is IFC’s first debt investment in a Thai renewable energy developer exclusively targeting the C&I segment. CleanMax aims to expand its solar footprint across Thailand, build a robust portfolio, and attract interest from commercial lenders. Kuldeep Jain, Managing Director of CleanMax, said the partnership will accelerate access to clean and affordable energy in key industrial sectors. IFC estimates Thailand’s C&I solar market could triple over the next decade, signalling strong future growth. The move aligns with Thailand’s renewable energy goals and CleanMax’s mission to provide net-zero solutions across Asia.