CleanMax Enviro Energy Solutions shares surged 15% to hit a record high on Wednesday after the renewable energy company announced a major partnership with Meta Platforms to develop around 900 MW of renewable energy capacity in India.
The stock rallied as investors reacted positively to the deal, which strengthens CleanMax’s position in India’s fast-growing clean energy sector and highlights the rising demand for renewable power from data centres and artificial intelligence-led digital infrastructure.
Meta and CleanMax announced a renewable energy partnership of around 900 MW in India. As part of the agreement, the two companies will support the development of 837 MW of new solar and wind projects across Rajasthan and Karnataka.
Combined with previously announced projects, their partnership now represents more than 900 MW of renewable energy capacity.
Under the arrangement, CleanMax will develop and operate the new renewable energy projects, while Meta will purchase 100% of the environmental attributes generated from these facilities. The projects will support Meta’s goal of matching its electricity consumption with 100% clean and renewable energy and help reduce its value chain emissions in India.
The market responded positively to the announcement for several reasons.
First, the partnership brings a long-term global customer like Meta to CleanMax’s renewable energy portfolio. Meta’s businesses, including Facebook, Instagram, WhatsApp and Threads, require large amounts of digital infrastructure, and the rapid expansion of AI technologies is increasing the need for clean and reliable electricity.
Second, the deal reflects a larger trend where global technology companies are increasingly signing renewable energy agreements to power their expanding data centres and AI operations.
Kuldeep Jain, Founder and Managing Director of CleanMax, said that the future of infrastructure is becoming increasingly digital, AI-driven and interconnected, and it must be powered by clean energy. He added that the company looks forward to supporting Meta’s renewable energy ambitions while contributing to India’s clean energy transition.
Amanda Yang, Head of Clean and Renewable Energy at Meta, said the agreements represent meaningful progress towards Meta’s renewable energy goals in the region and will help bring new clean energy capacity onto India’s grid.
CleanMax is India’s largest pure-play commercial and industrial renewable energy company with more than 15 years of operations.
The company’s contracted renewable energy portfolio reached 5.7 GW in FY26. Around 74% of the new contracted capacity came from existing customers, reflecting strong customer retention and long-term business visibility.
It currently serves 588 customers across sectors such as technology, manufacturing, pharmaceuticals, FMCG, real estate and data centres, with data centres and AI infrastructure contributing 42% of its contracted renewable energy power sales portfolio.
For investors, the . The agreement signals growing demand for renewable energy from large global technology companies, especially as artificial intelligence increases the need for power-hungry data centres.
The deal also gives CleanMax stronger visibility over future growth and strengthens its position as a key renewable energy provider for global companies operating in India.
With AI adoption rising and technology companies increasing investments in sustainable infrastructure, renewable energy companies with large execution capabilities are likely to remain in focus.