Neysa will anchor 1 GW of a 2 GW AI compute factory in Kurnool, with CleanMax pledging about Rs 50,000 crore to power it round the clock

Neysa, the Mumbai headquartered AI cloud startup controlled by Blackstone, is set to anchor a proposed 2 GW green compute factory in Kurnool district, Andhra Pradesh, taking 1 GW of IT load. Its power partner, listed renewable energy company CleanMax Enviro Energy Solutions, signed a memorandum of understanding with the Andhra Pradesh Economic Development Board on November 12, 2026 to invest nearly Rs 50,000 crore in an integrated clean energy complex to supply the site, Moneycontrol, The Economic Times and Business Standard reported.

The power plan is the unusual part. CleanMax says it will build 3 GW of wind and solar capacity and 1 GW of pumped hydro storage over five years, with battery storage to balance supply, and at least 1.5 GW of renewable capacity targeted by 2029. A special purpose vehicle owned by CleanMax will apply to the state electricity regulator for a dedicated distribution licence, so the compute factory gets its own power network. Commissioning is targeted for March 2028. Moneycontrol reports the compute facility will use direct to chip cooling to limit water use and will draw on water allocated for industrial use.

Media reports put the compute facility at about 600 acres in the Orvakal zone with an investment of around Rs 8,000 crore, according to Elets CIO, and the project is expected to create about 1,000 direct and 1,000 indirect jobs. Neysa will also provide computing resources to research institutions in the state. "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," CleanMax founder and managing director Kuldeep Jain said. The MoU was signed at the CII Partnership Summit in Visakhapatnam, where Neysa founder Sharad Sanghi and Blackstone executives met state IT minister Nara Lokesh.

Neysa sells GPU first cloud infrastructure to enterprises, government agencies and AI developers in India. In February, Blackstone and co-investors including Teachers' Venture Growth, TVS Capital, 360 ONE Asset and Nexus Venture Partners agreed to put up to $600 million of primary equity into the company, giving Blackstone a majority stake, with a further $600 million of debt planned, TechCrunch reported. Blackstone's Ganesh Mani told TechCrunch India had fewer than 60,000 GPUs deployed and could need more than 2 million.

Why it matters: Jain has framed the project as moving compute out of a big city to a remote site closer to where the power is generated, with generation, storage and distribution planned together with the load they serve. That makes Kurnool a test of whether AI capacity in India can follow clean power inland. For now this is an MoU, so the milestones to watch are the distribution licence application, progress on the first 1.5 GW of renewables by 2029 and Neysa's GPUs going live against the March 2028 target.