Clean Max Enviro Energy Solutions Limited, an India-based renewable energy provider, announced in a regulatory disclosure dated October 9, 2026 that two of its Thai subsidiaries signed an agreement to acquire all of Massmunch Company Limited, a renewable energy generation company in Thailand. The transaction, valued at THB 1.25 million and due for completion by October 31, 2026, adds to the company’s commercial and industrial solar platform in Thailand.
Key Facts At A Glance
- Clean Max’s Thai subsidiaries signed a share purchase agreement to acquire 100% of Massmunch Company Limited.
- The transaction has an enterprise value of THB 1.25 million.
- Completion is targeted for October 31, 2026.
- Cleanmax Energy (Thailand) Company Limited will hold 99.99% and Cleanmax IHQ (Thailand) Company Limited will hold 0.01%.
- Massmunch was incorporated in Thailand on March 27, 2025, and operates in renewable energy generation.
- Clean Max stated the acquisition is not a related-party transaction.
- In July 2025, IFC invested THB 1,476 million in Clean Max’s Thai subsidiary to support commercial and industrial solar.
Clean Max Enviro Energy Solutions Limited has announced that its overseas subsidiaries entered into a share purchase agreement to acquire 100% of the share capital of Massmunch Company Limited in Thailand. The disclosure was filed with BSE under Regulation 30 of India’s listing obligations rules. The transaction carries an enterprise value of THB 1.25 million and is scheduled for completion by October 31, 2026.
Deal Structure
The acquisition will be executed through Cleanmax Energy (Thailand) Company Limited and Cleanmax IHQ (Thailand) Company Limited. On completion, the first will hold 99.99% of Massmunch’s share capital and the second the remaining 0.01%, making Massmunch a step-down wholly owned subsidiary of Clean Max.
Massmunch was incorporated in Thailand on March 27, 2025, and operates in the renewable energy generation sector. Clean Max said the acquisition aims to strengthen its presence in Thailand and expand its solar capacity there, and that the deal is not a related-party transaction.
Existing Thai Platform
The acquisition builds on financing secured by Clean Max’s Thai unit in 2025. On July 30, 2025, IFC announced an investment of THB 1,476 million, about USD 45 million, in CleanMax Energy (Thailand) Company Limited to expand clean power access for industrial businesses. IFC described it as its first debt investment in a Thai renewable energy developer focused exclusively on the commercial and industrial segment, and estimated at the time that the Thai commercial and industrial solar market could triple over the following 10 years.
Publicly available details on the transaction remain limited. The disclosure does not specify Massmunch’s existing assets, project pipeline, generating capacity or customers, and no statement from Massmunch has been reported.