June 22, 2023

Press Release

Michelin Chennai Factory to be powered with renewable energy

PARTNERS WITH CLEANMAX FOR OPEN ACCESS SOLAR ENERGY

Leading mobility and technology company, Michelin, has signed a Power Purchase Agreement (PPA) with CleanMax Enviro Energy Solutions Pvt. Ltd for supply of green energy. The agreement marks Michelin’s factory at Thervoykandigai, first long-term open access PPA, that will increase the total contribution of renewable energy to 37% from current 11% and account for a reduction of 11,712 tons of CO2 emissions annually.

Speaking on the collaboration, Florent Chaussade, Plant Director, Michelin Chennai stated, “Michelin Group’s societal responsibility is embodied by its Sustainable Development and Mobility strategy. Our aim is to make Michelin one of the most innovative, responsible, and high-performing companies worldwide across all of its responsibilities: economic, environmental, social and societal. Because Michelin is aware of the need to preserve natural resources and earth systems to conduct its business sustainably, we deeply care about the environmental impacts of our operations. In India, we have been a pioneer in adopting multiple innovative green initiatives both inside and around outside our factory. Our partnership with CleanMax is one more concrete step by Michelin in India to contribute to our global green mission.”

Michelin India has led numerous green projects in Chennai around its state-of-the-art manufacturing plant as part of the Michelin Group’s global green mission on reaching climate targets, and commitment to becoming carbon-neutral by 2050. In 2019, the company set out to shift the facility from fossil fuel-based energy to renewable energy. Later in 2020, the company installed a roof-top plant covering around 45% of the roof area, delivering 11% of the factory’s energy demands and helping to reduce 9,856 tons of CO2 emissions until January 2023.

Mr Kuldeep Jain, MD CleanMax, said, “In 2020 CleanMax completed a 4.2 MW onsite solar PV project for Michelin Group, and we have since become their preferred sustainability partner, as seen by this current PPA for this approximately 11 MW solar PV project. We are excited to assist Michelin in their quest to become more sustainable by implementing innovative green, clean energy solutions.”

To conserve and support lower emissions, Michelin Chennai factory has undertaken several steps under its 4R strategy (reduce, reuse, recycle, and renew) in every operation. It is a “Zero Liquid Discharge" manufacturing facility, wherein the company ensures that the water used in the facility is treated and consumed within. 22090 additional trees have been planted over 30 hectares to enhance the green cover ensures 145 tonnes of CO2 absorption annually.

About Michelin‍

Michelin, the leading mobility company, is dedicated to sustainably enhancing its clients’ mobility; designing and distributing the most suitable tires, services, and solutions for its clients’ needs; providing digital services, maps, and guides to help enrich trips and travels and make them unique experiences; and developing high-technology materials that serve a variety of industries.

Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries, has 132 000 employees and operates 67 tire production facilities which together produced around 200 million tires in 2022. (www.michelin.com).

About CleanMax‍

Founded in 2011, CleanMax is one of the largest providers of green, clean energy to corporate consumers in Asia. Headed by Managing Director, Mr. Kuldeep Jain, CleanMax has national presence and five offices across India; and offices in UAE and Thailand. CleanMax provides green energy, green energy attributes to MNCs and large corporates, helping them become sustainable.

We have helped 350+ corporate consumers to adopt renewable energy in their operations. We manage 1.6 GW+ of operating wind and solar projects and supply over 3076 GWh of green energy every year (equivalent to powering 8.55 lakhs households for a year) and helping offset about 2.5 million tonnes of CO2 every year.

About

CleanMax Enviro Energy Solutions Limited

Clean Max Enviro Energy Solutions Limited (NSE: CLEANMAX | BSE: 544717) (“CleanMax”) is India’s largest pureplay Commercial & Industrial (“C&I”) renewable energy company with more than 15 years of operations.

CleanMax’s contracted RE Power Sales portfolio reached ~6.0 GW as of 30 June 2026 (Q1 FY 2027), with ~79% of new contracted capacity driven by existing customers, reflecting strong customer retention and long-term business visibility. The Company today serves ~600 customers across technology, digital infrastructure, manufacturing, and industrial sectors, with Data Centres & AI infrastructure customers contributing 42% of its contracted RE Power Sales portfolio. Its clientele includes global and Indian corporations such as Apple, Amazon, Google, Meta, Cisco, Equinix, BASF, Shell, CEAT, and STT GDC India, among others.

CleanMax has received a GRESB score of 100/100 with a 5-star rating and global sector leadership in renewable power generation.