Hero Motocorp, CleanMax Partner For Haryana Solar Project

Hero Motocorp, CleanMax Partner For 5.15 Cr Haryana Solar project

Delhi-based Hero MotoCorp has entered into an arrangement with CleanMax Enviro Energy Solutions Pvt. Ltd. (CleanMax) to set up a Special Purpose Vehicle (SPV).

The two-wheeler manufacturer shared its plans in a regulatory filing; it said, “The investment of up to Rs. 5.15 crore for Solar Power Wheeling project, for the Company’s plants at Dharuhera and Gurugram under Group Captive mechanism. Whereas the indicative period for completion of the acquisition is Approx. 1 year.”

The company talked about the partnership with Cleanmax Envirno, and said, “The proposed SPV will be incorporated for the Solar Power Wheeling project under the Group Captive mechanism.”

Hero MotoCorp further explained the objective of the investment. The company said, “The objective of the investment is to increase the renewable footprint under the Group Captive mechanism with equity investment by the Company in the SPV to be created by CleanMax under the Green Energy Open Access Regulations 2023 of Haryana Electricity Regulatory Commission.”

Rise In Captive Solar Projects In Haryana 

Haryana has recently witnessed a surge in captive solar energy projects. For instance, earlier in 2025, companies like Poly Medicure, a medical devices manufacturer and exporter, formed a Joint Venture Company (JVC) with AMPIN Energy Transition (formerly Amp Energy). Under this partnership, Poly Medicure would build a solar power project, to supply energy under a captive segment. Thus, generating a plant for the company’s manufacturing facility, in Haryana, India.

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Poly Medicure said in a notification, “As per the terms of the Joint Venture Agreement, the proposed JV Company will be 26% owned by Poly Medicure Limited and 74% owned by AMPIN C&I Power Private Limited, and capital shall be infused by both parties in one or more tranches as per the mutually agreed terms and conditions among Poly Medicure  Limited and AMPIN C&I Power Private Limited.”

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