Khaitan & Co advised Osaka Gas Singapore, a subsidiary of Osaka Gas Japan, on a joint venture with Brookfield-backed Clean Max Enviro Energy Solutions Pvt. Ltd.
Osaka Gas Singapore, along with the Japan Bank for International Cooperation (JBIC), is forming a consortium, DJ Renewables Pte Ltd (JP Conso), in Singapore. This consortium will enter into the joint venture with Clean Max Enviro Energy Solutions to advance renewable energy initiatives in India.
Khaitan & Co advised Osaka Gas Singapore on this joint venture.
The transaction team consisted of Dibyanshu (Partner), Raja Kishore (Principal Associate), Sathyajith Nair (Principal Associate) which advised on the joint venture with Clean Max, with assistance on the due diligence from the following:
Prateek Bhandari (Counsel), Ishita Gupta (Senior Associate), Srijita Jha (Senior Associate), Abhishek Sharma (Associate).
Post-closing, the joint venture company between JP Conso and Clean Max, will be called Clean Max Osaka Gas Renewable Energy Pvt. Ltd. (JV), with JP Conso holding 49% shareholding, while the remaining 51% will be held by Clean Max. Clean Max will be transferring selected renewable energy projects to the JV and the JV aims to own and develop approximately 400 MW of assets within the next three years.
The primary objective of this collaboration is to develop and manage renewable energy projects, with an initial focus on establishing approximately 400 megawatts of renewable assets. This initiative allows Osaka Gas to enter the Indian renewable energy market, while CleanMax expands its reach and access to global capital.
Osaka Gas plans to explore further collaboration with Clean Max beyond the initial business to consider deepening the level of collaboration not only in India's renewable space but also in pursuing the possibility of new energies such as green hydrogen and e-methane, aligning with its Medium-Term Management Plan 2026.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.