Clean Max Enviro Energy Solutions, a listed Indian renewable power company, signed a memorandum of understanding with the Andhra Pradesh Economic Development Board to invest nearly ₹50,000 crore in clean power. The power is for a 2 GW Compute Factory in Kurnool district, it said in a release filed with the stock exchanges on 12 November. Reuters reported the plan as a $5.3 billion investment.
The plan covers 3 GW of wind and solar and 1 GW of pumped hydro storage. Neysa, a Blackstone-backed AI cloud provider, will anchor the park with 1 GW of IT load, the release says. By our arithmetic, the 2 GW park is about 1.3 times India’s total data centre capacity of around 1,500 MW in 2025.
Business Pill · Grid Cost Allocation Explained
An evergreen Business Engineer explainer on grid cost allocation: who pays for the new power line a large new user needs. It explains the general idea only and does not discuss CleanMax, Neysa or Andhra Pradesh.
The key insight: As we read it, the MoU sizes the power before the chips: by our arithmetic CleanMax plans 4 GW of generation and storage, about ₹25,000 crore per gigawatt of compute, for a 2 GW park that alone is about 1.3 times India’s 2025 data centre capacity.
CleanMax describes itself as India’s largest renewable energy solutions provider for the commercial and industrial sector. Under the MoU it “proposes to invest nearly ₹50,000 crore to develop integrated power generation facilities aggregating 3 GW of clean energy across wind and solar energy and 1 GW of pumped hydro facilities”.
The projects will be developed in phases, with at least 1.5 GW of renewable capacity proposed by 2029, the release says. Its highlights put the 3 GW of renewables and the 1 GW of pumped storage “within the next five years”.
The release says CleanMax plans to own the wires too: a CleanMax-owned special purpose vehicle will apply to the Andhra Pradesh Electricity Regulatory Commission for a distribution licence, “giving the Green Compute Factory its own dedicated power network”. Pumped storage and battery storage will balance wind and solar output to meet round-the-clock demand, the release says.
The planned 2 GW CleanMax-Neysa Compute Factory in Kurnool, Andhra Pradesh, against India’s total data centre capacity in 2020 (about 375 MW) and 2025 (around 1,500 MW) and Google’s planned Visakhapatnam hub (nearly 1 GW). The 1.3x ratio is our arithmetic. Sources: CleanMax release filed with NSE/BSE, 12 November 2026; Digital India (MeitY); Google release, April 2026.
Power Per Gigawatt of Compute
By our arithmetic, the plan pairs 4 GW of generation and storage capacity with a 2 GW compute load, or 2 GW of power assets for every gigawatt of compute. Spread over the 2 GW park, the ₹50,000 crore works out at about ₹25,000 crore of power investment per gigawatt of compute.
The money in the MoU is for power, not chips or buildings. The release puts Neysa’s anchor load at 1 GW, half of the 2 GW park by our arithmetic, and names no tenant for the other half.
Measured against CleanMax’s own business, the 3 GW of new wind and solar equals about 48% of its contracted renewable power sales portfolio of about 6.3 GW as of 30 September 2026, by our arithmetic and the release’s figures.
What the CleanMax MoU with the Andhra Pradesh Economic Development Board covers, in gigawatts. Source: Clean Max Enviro Energy Solutions release filed with NSE and BSE, 12 November 2026. The per-gigawatt figure is our arithmetic.
A Second Gigawatt Site in Andhra Pradesh
The same state hosts Google’s $15 billion AI hub in Visakhapatnam, which Google’s April release describes as nearly 1 GW in a single location, and which Chief Minister N. Chandrababu Naidu told Bloomberg is on track to start operations in 2028, as set out in our piece on Google’s India hub. Naidu also flagged new data centre investments by Blackstone, according to that report.
India’s data centre capacity rose from about 375 MW in 2020 to around 1,500 MW by 2025, according to a Digital India release. By our arithmetic, the two Andhra Pradesh sites together, at about 3 GW, are about twice that 2025 national total.
CleanMax founder and managing director Kuldeep Jain said: “Compute is becoming one of the largest new sources of power demand, and it needs clean energy that is available every hour of the day.” On water, the release says the park will use direct-to-chip cooling and draw on water allocated to industrial use by the local administration.
The Structural Read
As we read the structure, CleanMax takes generation, storage and the distribution licence, while Neysa takes 1 GW of the load, half the park by our arithmetic; the release names no tenant for the rest.
As we read the state picture, Andhra Pradesh now hosts two planned gigawatt-scale sites, Google’s Visakhapatnam hub at nearly 1 GW and this 2 GW park, about twice India’s 2025 national total by our arithmetic.
Kuldeep Jain, Founder and Managing Director, Clean Max Enviro Energy Solutions, 12 November 2026
“In Andhra Pradesh, we are planning generation, storage and distribution integrated with the compute load they serve, rather than one after the other.”
Three Implications
FOR CLEANMAX The release puts the 3 GW of wind and solar and the 1 GW of pumped storage within the next five years, with at least 1.5 GW of renewables proposed by 2029.
FOR NEYSA The release says the Blackstone-backed AI cloud provider will anchor the park with 1 GW of IT load.
FOR ANDHRA PRADESH A CleanMax-owned special purpose vehicle will apply to the state electricity regulator for a distribution licence for the park, the release says.
The framework argues: “The structural bottleneck isn’t computing, it’s electrons.”
As we read it, CleanMax’s MoU prices that bottleneck at one site: about ₹25,000 crore of power investment per gigawatt of compute, by our arithmetic. The framework predates the MoU and does not discuss CleanMax or Neysa.
What Is Not Established
An MoU is a statement of intent, not a financing or a final investment decision. The release does not give a construction start date or a date for the first compute capacity, and the distribution licence still has to be applied for at the state regulator.
The $5.3 billion is Reuters’ conversion; the company states the figure in rupees. Neysa’s own terms for its 1 GW, including how many GPUs it plans, are not in the release. We did not contact CleanMax or Neysa for this piece.
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CleanMax plans nearly ₹50,000 crore of wind, solar and pumped storage to power a 2 GW Compute Factory in Kurnool, with Neysa anchoring 1 GW. By our arithmetic, that is 2 GW of power assets per gigawatt of compute, and a park about 1.3 times India’s entire 2025 data centre capacity.
A note on sourcing. We read in full Clean Max Enviro Energy Solutions’ release of 12 November 2026 as filed with the National Stock Exchange of India and BSE. The $5.3 billion figure is from the Reuters report; the company states the investment in rupees. India’s data centre capacity figures are from the Digital India release, and the Google hub details are as set out in our earlier coverage, which names its sources. All ratios are our arithmetic. We did not contact CleanMax or Neysa.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
