Inox Clean Solar Acquisition Advances 3 GW Renewable Capacity Target
Inox Clean solar acquisition activity has accelerated with the purchase of 250 MWp of operational solar assets from SunSource Energy Private Limited. The transaction strengthens the company’s scale in India’s commercial and industrial renewable energy market.
Inox Clean Energy Limited completed the acquisition through its subsidiary, Inox Neo Energies Limited. Additionally, the company said it is pursuing the acquisition of nearly 50 MWp more, subject to regulatory approvals. As a result, the overall portfolio depth is expected to increase further.
According to the company, the acquired solar projects operate across 13 states. These include Uttar Pradesh, Karnataka, Tamil Nadu and Maharashtra. The assets function through multiple special purpose vehicles and supply power to a diversified commercial and industrial customer base. Meanwhile, SunSource operates as a wholly owned subsidiary of Netherlands-based SHV Energy.
Inox Clean Solar Acquisition Anchored by Long-Term PPAs
Inox Clean said the acquired portfolio benefits from long-term power purchase agreements. The PPAs carry a weighted average tenure of about 24 years. Consequently, the projects provide long-term revenue visibility.
The portfolio supplies electricity to sectors such as manufacturing, FMCG, power equipment, healthcare and pharmaceuticals. Key customers include Britannia Industries Limited, Jubilant Foodworks, Hitachi Energy and Max Healthcare. As a result, the company said the assets benefit from strong counterparty credit profiles. With this transaction, Inox Clean said its customer base now includes Indian corporates, multinational firms and government-linked entities.
Inox Clean Solar Acquisition Supports FY26 and FY28 Goals
The company described the Inox Clean solar acquisition as a milestone toward its growth roadmap. Specifically, it supports the target of reaching 3 GW of renewable generation capacity by FY26-end.
Bharat Saxena, CEO and whole-time director of Inox Clean, said the acquisition will drive growth in the independent power producer business. He added that recent portfolio additions support the 3 GW target for FY26-end. Moreover, they position the company toward a medium-term goal of 10 GW of installed capacity by FY28. He also said the expanding mix of government and C&I customers improves portfolio balance. Therefore, the company expects greater resilience across market cycles.
Integrated Renewables Platform Within INOXGFL Group
Inox Clean operates as part of the INOXGFL Group. It serves as the holding company for renewable generation and solar manufacturing operations.Renewable IPP assets operate under Inox Neo Energies. At the same time, solar manufacturing is housed within Inox Solar Limited. Together, these businesses form an integrated renewables platform.
Under this strategy, the company plans to manufacture solar cells and modules. Some output will support captive projects. The remainder will be sold to third-party customers. After commissioning, generated power will be sold to captive users, exchanges and commercial buyers.As a result, Inox Clean said it aims to scale faster by leveraging group-level expertise and operational synergies.
