Hexa Climate
Hexa Climate is a Gurugram-based climate solutions IPP platform, founded in 2023 and backed by I-Squared Capital, that finances, builds, and operates solar, wind, storage, and carbon offset projects for Indian C&I consumers under long-term OPEX-based PPAs.
- Company typePrivate
- Founded2023
- HeadquartersGurugram, India
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Hexa Climate does
Hexa Climate Solutions Private Limited is a Gurugram-headquartered climate solutions Independent Power Producer (IPP) platform, founded in 2023 and backed by I-Squared Capital (a global infrastructure investment manager with over $45 billion in AUM). The company develops, owns, and operates large-scale solar, wind, and hybrid renewable energy projects across India, selling power to Commercial and Industrial (C&I) consumers through long-term Power Purchase Agreements (PPAs) under India's Green Open Access framework. Its core offering is an OPEX-based model in which Hexa invests the upfront capital for project setup and delivers electricity at tariffs lower than grid rates, providing customers guaranteed savings from Day 1. Hexa also offers battery storage solutions, carbon offsets (via its Hexa Carbon sub-brand covering NBS, CDR, and methane avoidance projects), International Renewable Energy Certificates (I-RECs), and ancillary water management solutions.
The business generates revenue primarily through long-term recurring PPA tariffs on unit electricity sales, complemented by transaction-based revenue from I-REC trading and carbon credit sales, and project development/management fees. Distribution is direct enterprise field sales with no resellers; projects are delivered via Inter-State Open Access (leveraging ISTS charge waivers and General Network Access regulations) and Intra-State Open Access mechanisms, enabling consumers to source renewable power from resource-rich states such as Maharashtra, Haryana, Karnataka, Rajasthan, Andhra Pradesh, Gujarat, and Tamil Nadu. Hexa reports an advanced shovel-ready C&I pipeline of approximately 300 MW and an additional 1.5 GW under development, with a stated delivery footprint spanning six APAC countries (Japan, Malaysia, Taiwan, South Korea, Philippines, Singapore). Named enterprise customers include Godrej Enterprises Group (98 MW solar project in Sirsa, Haryana), Digital Edge India (up to 83 MW PPA for a 350 MW AI-ready hyperscale data center in Navi Mumbai), and NHPC (25-year PPA for a 160 MW Firm and Dispatchable Renewable Energy project at ₹4.33/kWh).
Operational capacity is anchored by a sizeable in-house leadership team covering project development, engineering, construction, procurement, asset management, legal, and net-zero advisory functions. The company is Great Place To Work® Certified (2025) and has received recognition at the Times Business Icons North 2026 event. Strategic investors include Tata Capital, which provided INR 300 crore (~$33M) of debt financing in February 2026 for renewable energy project deployment. Hexa is also an active M&A participant, having submitted a ~₹3,000 crore binding bid (alongside Purvah Green and Inox Clean Energy) to acquire Enel Group's Indian renewable energy business (2.5 GW potential capacity, 640 MW operational). Regulatory exposure includes a 2026 CERC rejection of an interim relief plea filed jointly with Adyant Power in a grid connectivity dispute for a 200 MW project.
Hexa Climate firmographics
Firmographics- Name
- Hexa Climate
- Legal name
- Hexa Climate Solutions Private Limited
- Website
- https://hexaclimate.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Hexa Climate is a Gurugram-based climate solutions IPP platform, founded in 2023 and backed by I-Squared Capital, that finances, builds, and operates solar, wind, storage, and carbon offset projects for Indian C&I consumers under long-term OPEX-based PPAs.
- Ownership category
- akta.pro rank
Hexa Climate industry classification
Industry- Product category
- Renewable Energy Services
- NAICS
- Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)
- akta.pro secondary industry
- Carbon Neutrality/Claims Strategy & Communications (claims substantiation, greenwashing risk) (EUABAKAK)
Keywords
Where Hexa Climate is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Hexa Climate business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Technology or R&D, Personnel, Supply Chain, Operations
Revenue model
- Power Purchase Agreement (PPA) Revenue: Hexa Climate installs and maintains large-scale solar and wind farms and sells electricity to C&I consumers through long-term Power Purchase Agreements (PPAs) at a predetermined tariff lower than grid rates. Revenue is recurring over the contract period (typically 10-25 years), generated from power unit sales.
- Carbon Credit Sales: Hexa funds and builds carbon projects across APAC and sells long-term carbon credits to buyers through a pay-on-delivery model. Credits are generated from NBS (Nature-Based Solutions), CDR (Carbon Dioxide Removal), and methane avoidance projects.
- I-REC Trading: Hexa provides International Renewable Energy Certificates to C&I consumers to fulfill renewable purchase obligations, monetizing the environmental attributes of renewable energy generation.
- Project Development and Management Fees: Hexa offers end-to-end project development services including consumption profiling, PPA structuring, scheduling and settlement management, and carbon benefit tracking for C&I clients.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | OPEX-based PPA model - no upfront capital required from consumer |
| Subscription | Multi-year contract | 160 MW FDRE PPA with NHPC at ₹4.33 per kWh for 25 years |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Hexa Climate product offering
Product offeringCore offering
Hexa Climate is a climate solutions Independent Power Producer (IPP) platform that finances, builds, and operates large-scale solar and wind farms under an OPEX model, selling power to Commercial and Industrial (C&I) consumers via long-term Power Purchase Agreements (PPAs) at tariffs below grid rates. The company also offers battery energy storage, Carbon Offset Solutions (NBS, CDR, and methane avoidance credits via its Hexa Carbon sub-brand), and International Renewable Energy Certificates (I-RECs) to help clients meet renewable purchase obligations and net-zero targets.
Product overview
Hexa Climate is a climate solutions IPP (Independent Power Producer) platform offering a modular portfolio of renewable energy and decarbonization products. The core offering consists of OPEX-based Open Access Solar and Wind Power solutions, where Hexa invests upfront capital to install and maintain large-scale renewable projects and sells power to C&I consumers via long-term PPAs at tariffs lower than grid rates. This is complemented by Battery Storage Solutions for grid stability and energy shifting, Carbon Offset Solutions through its Hexa Carbon sub-brand (offering NBS, CDR, and Methane Avoidance credits via pay-on-delivery), and I-RECs for renewable purchase obligations. The platform also offers Water Solutions as an add-on module. Projects are delivered through Inter-State or Intra-State Open Access mechanisms, enabling consumers nationwide to access renewable energy.
Differentiator
Problem solved
Functional benefit
Brands
- Hexa Carbon: Carbon credits platform offering NBS, CDR and Methane Avoidance projects with pay-on-delivery model for long-term carbon credits to buyers across APAC.
Products and services
- Open Access Solar and Wind Power OPEX-based renewable energy solution where Hexa Climate invests upfront capital to install and maintain large-scale solar and wind farms and sells generated power to Commercial and Industrial (C&I) consumers at predetermined tariffs lower than grid rates through long-term Power Purchase Agreements (PPAs), delivering guaranteed savings from Day 1.
- Battery Energy Storage Solutions Advanced energy storage services for commercial and industrial needs that complement renewable energy installations, providing grid stability, energy shifting, and round-the-clock renewable power delivery.
- Carbon Offset Solutions (Hexa Carbon) Compensation for GHG emissions by reducing equivalent emissions elsewhere through Nature-Based Solutions (NBS), Carbon Dioxide Removal (CDR), and Methane Avoidance projects across APAC, offered as long-term carbon credits to buyers via a pay-on-delivery model.
- International Renewable Energy Certificates (I-RECs) International Renewable Energy Certificates that enable organizations to demonstrate environmental benefits and meet Renewable Purchase Obligations (RPO) and sustainability targets through trading on renewable energy markets.
- Water Solutions Comprehensive water management solutions including desalination, water treatment projects, and wastewater recycling/reuse for corporate and industrial partners, offered as an add-on module to the climate solutions platform.
Quantifiable outcome
- ~7.47 lakh tonnes CO2 avoided annually (160 MW NHPC project)
- +5 more outcomes
Companies that use Hexa Climate
Customer profileNamed customers3 records
Segments1 record
Ideal customer profiles1 record
Hexa Climate technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Hexa Climate partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and opportunistic.
- NHPC LimitedcoreHexa Climate signed a 25-year Power Purchase Agreement with NHPC for a 160 MW Firm and Dispatchable Renewable Energy (FDRE) project in India, comprising an 80 MW base allocation plus an 80 MW green-shoe option. The project will supply round-the-clock renewable power at ₹4.33/kWh, approved by CERC and PSERC. PSPCL handles end distribution through the Inter-State Transmission System. Expected to avoid ~7.47 lakh tonnes CO2 annually with 65% capacity utilization factor.
- Enel GroupopportunisticHexa Climate submitted a binding bid (along with Purvah Green and Inox Clean Energy) valued at approximately ₹3,000 crore to acquire Enel Group's Indian renewable energy business, which comprises projects with a potential capacity of 2.5 GW (640 MW operational). The deal is subject to ICC arbitration outcome involving Waaree Energies.
- Digital Edge / AGP Sustainable Real AssetscoreHexa Climate signed a renewable energy PPA with Digital Edge covering up to 83MW of solar energy for the first phase of its 350MW AI-ready hyperscale BOM campus in Navi Mumbai. Digital Edge will take a substantial minority equity stake in the associated renewable energy projects. Power delivery expected from December 2026. Projected to offset ~100,000 tonnes CO2 annually.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Hexa Climate competitors and assessment
Company assessmentDirect peers
- Sunsure Energy: India-focused C&I open access solar developer using OPEX PPAs with marquee enterprise customers; competes with Hexa for large industrial PPAs across resource-rich states.
- Avaada Energy: Large India renewable IPP developing utility-scale solar, wind and hybrid projects for C&I and utility off-takers; comparable operating model and target customers as Hexa, though at materially larger scale.
- Fourth Partner Energy: India-based C&I-focused solar IPP that pioneered the OPEX/PPA model for commercial and industrial customers; directly competes with Hexa on open access solar bids, multi-MW PPAs, and turnkey decarbonization offerings.
- Serentica Renewables: C&I-focused renewable IPP in India providing hybrid solar-wind-storage solutions via long-term PPAs to large industrial consumers, overlapping closely with Hexa's FDRE-plus-storage proposition.
- CleanMax Enviro: Specialist in C&I rooftop and open access solar under long-term OPEX PPAs; one of Hexa's closest India C&I competitors with a similar turnkey, capex-free customer proposition.
- Amplus Solar (Yinson Renewables): C&I distributed solar IPP in India and Southeast Asia using OPEX-based PPAs; serves large commercial and industrial clients with multi-MW open access projects, directly comparable to Hexa's C&I focus.
Broad incumbents
- Adani Green Energy: Largest renewable energy IPP in India with utility-scale and C&I presence; a broad incumbent whose financial firepower and grid access shape the competitive landscape for Hexa.
- ReNew Power: One of India's largest renewable IPPs with a broad utility-scale and C&I portfolio of solar, wind, and hybrid projects; competes with Hexa for large PPAs but serves a much wider customer base.
- Greenko Group: Large India-focused renewable IPP with significant solar, wind, and pumped-storage hybrid projects; competes with Hexa in C&I and utility PPAs and brings integrated storage to market.
- Tata Power Renewables: Renewables arm of Tata Power, developing utility-scale and C&I solar, wind and hybrid projects in India; a deep-pocketed incumbent competing for many of the same C&I customers Hexa targets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Hexa Climate social profiles
Digital presenceHexa Climate financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hexa Climate leadership team
Management profileNumber of profiles
Profiles1 record
Hexa Climate funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hexa Climate M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hexa Climate
What does Hexa Climate do?
Hexa Climate is a climate solutions Independent Power Producer (IPP) platform that finances, builds, and operates large-scale solar and wind farms under an OPEX model, selling power to Commercial and Industrial (C&I) consumers via long-term Power Purchase Agreements (PPAs) at tariffs below grid rates. The company also offers battery energy storage, Carbon Offset Solutions (NBS, CDR, and methane avoidance credits via its Hexa Carbon sub-brand), and International Renewable Energy Certificates (I-RECs) to help clients meet renewable purchase obligations and net-zero targets.
Is Hexa Climate a public or private company?
Hexa Climate is a private company. It is classified as private equity controlled and is currently operating.
When was Hexa Climate founded?
Hexa Climate was founded in 2023. It employs 101 to 250 people.
Where is Hexa Climate based?
Hexa Climate is headquartered in Gurugram, India, in the Asia region.
How does Hexa Climate make money?
Four revenue lines are on record. Power Purchase Agreement (PPA) Revenue is the primary driver. The others are carbon Credit Sales, I-REC Trading and project Development and Management Fees.
Who are Hexa Climate's main competitors?
Direct peers on record are Sunsure Energy, Avaada Energy, Fourth Partner Energy, Serentica Renewables, CleanMax Enviro and Amplus Solar (Yinson Renewables). Broad incumbents are Adani Green Energy, ReNew Power, Greenko Group and Tata Power Renewables.
Does Hexa Climate have an API?
No public API is recorded for Hexa Climate.
What industry is Hexa Climate in?
Hexa Climate's product category is Renewable Energy Services. Its primary akta.pro industry code is EUAMABAA, Solar Project Development & IPP (Utility-Scale & Rooftop), with a secondary code of EUABAKAK, Carbon Neutrality/Claims Strategy & Communications (claims substantiation, greenwashing risk). Its NAICS code is 221114 and its SIC code is 4991.