Max Estates Advances Renewable Energy Transition; Targets 50% Clean Energy Across Portfolio by 2030
New Delhi, August 4, 2026: Max Estates, the real estate arm of Max Group, has advanced its renewable energy transition during FY26 with the operationalisation of solar power sourcing at Max Square, marking the Company’s first move towards its long-term goal of shifting 50% of its portfolio’s energy consumption to renewable sources by 2030, aligned with India’s Panchamrit climate commitment. According to the Company’s FY26 Integrated Annual Report, renewable energy adoption forms part of the Company’s broader decarbonisation roadmap, which includes Net Zero target setting, Scope 3 emissions measurement, climate scenario analysis, AI-enabled cooling systems and Whole Building Life Cycle Assessments.
The Company operationalised a solar power purchase arrangement (PPA) for Max Square by onboarding a third-party/bilateral solar PPA model aimed at reducing Scope 2 and Scope 3 emissions while offering electricity cost savings to tenants. The initiative became operational in February 2026 following completion of key infrastructure and legal requirements. Once fully implemented, the project is expected to reduce annual emissions by around 6,000 tCO₂e while lowering electricity costs by 20-25%, Max Estates said in a press release.
During FY26, Max Estates consumed 52,221.19 GJ of total energy, comprising 37,538 GJ of brown electricity consumption, 9,667.69 GJ of fuel consumption and 5,016 GJ from renewable energy sources. Renewable energy integration resulted in 992 tCO₂e of emissions avoided during FY26.
The Company continues to deploy technology-led initiatives to improve operational efficiency and reduce energy consumption. Max Towers initiated cooling-as-a-service, marking Max Estates’ shift towards AI-enabled cooling systems that improve system operations, lower energy requirements and enhance cooling services for tenants. Across operational and upcoming assets, the Company has also deployed Smart Joules, IoT-enabled Building Management Systems (BMS), PropTech integrations, AI-based cooling solutions, double-glazing units, heat recovery mechanisms, solar rooftops and green infrastructure to optimise energy performance and reduce utility consumption.
Max Estates continued to strengthen its decarbonisation roadmap during FY26 by establishing internal operational emission targets, progressing Scope 3 emissions measurement and undertaking embodied carbon assessments for delivered and under-construction projects. Climate-risk preparedness was reinforced through climate scenario analysis using NGFS scenarios and RCP 2.6, 1.5°C and 4°C pathways, with no physical climate-risk incidents reported during FY26. Transition-risk actions included off-site solar implementation, AI-based cooling solutions, ESG policy updates and DG retrofit initiatives supporting the Company’s broader decarbonisation pathway.
The Company recorded Scope 1 and Scope 2 emissions of 8,343 tCO₂e, while Scope 3 emissions stood at 92,257 tCO₂e during FY26. Alongside emissions management, Max Estates reported that 100% of its portfolio is certified under Green Building Strategies (LEED/IGBC). All delivered projects—Max Towers, Max House and Max Square—have achieved LEED/IGBC certifications and WELL Health & Safety Ratings. During FY26, the Company also reported 100% diversion of solid waste from landfill, 100% recycling of e-waste and hazardous waste, 41,785 kL of water recycled and reused, with recycled water accounting for 19% of total water use.
The Company’s sustainability roadmap includes sourcing renewable energy for 35% of the operational portfolio by FY27 and up to 50% by 2030. It also plans to establish SBTi-backed Net Zero targets, expand renewable power purchase initiatives, progress Whole Building Life Cycle Assessments, undertake embodied carbon computation for future developments, maintain 100% recycling of solid and construction waste, and continue strengthening ESG performance across its portfolio while retaining its GRESB 5-Star rating.
