Inox Clean Acquires Vena Energy's 6-Gigawatt Renewable Energy Portfolio for Rs 6,000 Crore

Inox Clean Energy Ltd Acquires Vena Energy India's 6 GW Renewable Portfolio for Rs 6,000 Crore

Inox Clean Energy Ltd (Inox Clean) has signed a significant agreement with Vena Energy India to acquire the company's 6 GW renewable portfolio in a Rs 6,000 crore deal. This acquisition marks a significant milestone in Inox Clean's strategy of building a deeply integrated clean energy platform at scale.

The acquired portfolio comprises 1.2 GW of operational renewable energy assets, 1.8 GW of projects at an advanced stage of development and nearing commissioning, and an additional 3 GW of developmental-stage projects. This diverse portfolio includes long-term power offtake arrangements with marquee clientele, including Solar Energy Corporation of India (SECI) and Gujarat Urja Vikas Nigam Ltd (GUVNL), as well as a diversified mix of commercial & industrial (C&I) consumers and state distribution companies.

Industry sources with knowledge of the deal estimated the deal size at around Rs 6,000 crore.

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Inox Clean, the integrated renewable energy platform of the INOXGFL Group, operates across the renewable IPP (Independent Power Producer) business through its subsidiary, Inox Neo, and the solar manufacturing business through its subsidiary, Inox Solar Ltd. The company is targeting 10 GW of installed renewable energy IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28, with assets spread across India and multiple key global geographies, including the US and Africa.

Over the last ten months, Inox Clean Energy has completed ten strategic acquisitions across renewable power generation and solar manufacturing, strengthening its presence across India and global markets while building a fully integrated clean energy platform spanning the entire renewable energy value chain. Some of the notable acquisitions include:

These strategic acquisitions have cemented Inox Clean's position as a leading player in the renewable energy sector, with a strong presence across India and multiple key global geographies.

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