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Augment Infrastructure Acquires a Majority Stake in CleanMax

  • Date : 12/08/2021
  • Source : Mercom India

CleanMax, an Indian renewable energy company, announced that Augment Infrastructure, a U.S.-based investment company, has acquired a majority stake in the company investing ₹16.5 billion (~$222.23 million) in equity. As a part of the deal, Augment Infrastructure would acquire the stake of Yellow Bell Investment, an affiliate of Warburg Pincus, and International Finance Corporation (IFC) in CleanMax, a leading rooftop solar company in India. The company will also invest primary capital in CleanMax to fund CleanMax’s growth pipeline. UK Climate Investments (UKCI) will continue as an investor and Board member.