Deals
Warburg Pincus Invests $100 Million in India's CleanMax Solar
- CleanMax has 24 percent share in rooftop solar market in India
- Investment will fund CleanMax’s overseas foray, new products
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Warburg Pincus, the New York-based private equity firm, invested $100 million in India’s largest rooftop solar developer CleanMax Solar, the company said in a statement.
CleanMax, which has about a quarter of the South Asian nation’s market for rooftop solar systems, will use the private equity investment to fund growth opportunities outside India and to improve product offerings, Kuldeep Jain, managing director of the renewable energy firm, said in the emailed statement. Warburg, which oversees more than $44 billion in private equity assets globally, did not disclose the stake it will hold after the investment.