CleanMax Solar has raised Rs 2.75 billion ($39.4 million) in equity funding from UK Climate Investments LLP. This is the third institutional investor to support the company’s growth ambitions. Earlier, in 2017, it secured equity financing up to Rs 7 billion from an affiliate of Warburg Pincus and IFC. The latest infusion will facilitate the construction of a network of private solar farms across India and help the firm further develop its existing two product lines of rooftop solar projects and open access solar projects.
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