MUMBAI, India, Nov. 27, 2024 -- APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of the leading gateway ports in Western India, is proud to announce a partnership with CleanMax, one of Asia's leading renewable energy providers for the Commercial and Industrial (C&I) sector and a Brookfield-backed company. This partnership reinforces APM Terminals Pipavav's commitment towards sustainability by reducing its carbon footprint.

The two companies have signed a 25-year Power Purchase Agreement (PPA) for a hybrid Wind-Solar Power Project in Gujarat. This strategic alliance represents APM Terminals Pipavav's mission to fulfill its industry-leading commitment to achieve full net-zero status by 2040, as well as to reduce its scope 1 and 2 emissions by 65% by 2030, relative to 2022 levels. APM Terminals Pipavav has made the deliberate and comprehensive decision to pursue net-zero operations, acting in the best interests of its stakeholders, including its employees, customers, the environment, and its business operations. Consequently, APM Terminals Pipavav has emerged as a catalyst within the port industry, encouraging other industry participants to adopt similar environmentally responsible practices.

The project, featuring a total capacity of 3.50 MW Wind and 1.06 MWp Solar under the Third-Party Open Access model, was implemented in two phases: the first in January 2022 (2 MW Wind and 0.50 MWp Solar) and the second in September 2024 (1.50 MW Wind and 0.56 MWp Solar). This hybrid energy solution will deliver approximately 54 lakh kWh/units of electricity annually to APM Terminals Pipavav's port operations in Amreli, Gujarat, helping avoid about 3,822 metric tonnes of CO2 emissions annually - equivalent to planting over 2.24 lakh trees each year. By adopting this clean energy approach, APM Terminals Pipavav is not only reducing its carbon footprint but also aligning with global sustainability targets.

Mr. Girish Aggarwal, Managing Director of APM Terminals Pipavav (GPPL), said, "This partnership with CleanMax demonstrates our decarbonization efforts for the maritime industry. We are the first company in our industry to have our climate targets officially validated by the Science Based Targets initiative (SBTi), a globally recognized authority on climate responsibility. The association with CleanMax ensures we not only meet our renewable energy targets but also contribute meaningfully to India's larger environmental goals. This further adds to our commitment to achieve full net-zero status by 2040."

Mr. Kuldeep Jain, Managing Director of CleanMax, shares his insights, "India's maritime industry plays a critical role in driving economic growth, trade, and job creation. By transitioning to renewable energy, key infrastructure like ports can lead the way in demonstrating sustainable operations. Our partnership with GPPL highlights how CleanMax is helping industry leaders embrace clean energy solutions, ensuring long-term energy security and operational efficiency while significantly reducing carbon footprints. By combining wind and solar, we're able to offer continuous power generation and reliability that will enable GPPL meet their sustainability targets effectively."

This partnership highlights APM Terminals Pipavav's leadership in incorporating sustainability into its core operations and advancing India's renewable energy agenda. The use of renewable energy is expected to result in long-term cost savings, as renewable energy tariffs are more predictable and less volatile than conventional power tariffs. Moreover, this initiative supports APM Terminals Pipavav's goal of becoming a certified 'Green Port', emphasizing environmentally responsible and sustainable operations.

By partnering with CleanMax, APM Terminals Pipavav is setting a strong example for other ports and industries across the country to follow in the journey towards a cleaner, greener future. This collaboration demonstrates how the maritime industry can play a crucial role in combating climate change and promoting sustainable development.

About APM Terminals Pipavav

APM Terminals Pipavav is one of India's leading gateway ports for containers, dry bulk cargoes, liquid bulk, and RoRo with excellent connectivity to the India's northwest hinterland through rail and road network. The current annual cargo handling capacity includes 1.35 million TEUs of containers, 4 million metric tons of dry bulk, 2 million metric tons of liquid bulk and 250,000 passenger cars. APM Terminals Pipavav is India's first public private partnership (PPP) port and the first port to be connected to the DFC in India and is a part of the APM Terminals global terminal network.

About Clean Max Enviro Energy Solutions Pvt. Ltd. (CleanMax)

CleanMax is one of Asia's leading renewable energy companies in the C& I (Commercial and Industrial) sector with 2 GW of operating renewable assets with a highly skilled and professional team spread across India, Middle East, and South-East Asia. CleanMax is a Brookfield-backed company. Brookfield is a leading global alternative asset manager with approximately $1 trillion of assets under management. We pioneered the 'Energy Sale' model for rooftop solar in India in 2011 and are focussed on being the sustainability & net-zero partner of choice for corporates. CleanMax operates some of the best managed renewable energy assets, including rooftop solar projects, solar farms, wind farms, wind solar hybrid farms and has expanded its services to include renewable energy certificates as well. We serve over 400+ distinct corporates. With many responsible companies in India committing to being Net Zero by 2030, CleanMax's comprehensive solutions have helped accelerate customer's shift to clean energy. Companies across industries such as Data Centres, Textiles, Automotive, Chemicals, FMCG, Pharma, Manufacturing have increasingly relied on CleanMax as their Net Zero Solutions provider. The company develops projects on a turnkey basis, providing power on a per kWh basis, under long-term Power Purchase Agreements, at rates better than prevailing grid tariffs. CleanMax was the first Indian company to win the prestigious Transformational Business Awards 2018 by Financial Times (FT) and International Finance Corporation (IFC) in Achievement in 'Transformational Infrastructure' category.

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