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Inox Clean Expands C&I Renewable Footprint with 250 MW Solar Asset Acquisition

Inox Clean Energy Ltd., part of the INOXGFL Group, has acquired approximately 250 MWp of fully operational solar power projects from SunSource Energy Pvt. Ltd. through its independent power producer (IPP) arm, Inox Neo Energies Ltd. The transaction further strengthens the company’s commercial and industrial (C&I) renewable energy portfolio.

In addition to the completed acquisition, around 50 MWp of solar capacity is currently under process, subject to the receipt of regulatory approvals.

SunSource Energy, the seller, is a wholly owned subsidiary of Netherlands-based SHV Energy. The acquired solar assets are distributed across 13 Indian states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra, and are housed under multiple special purpose vehicles (SPVs).

Long-Term Contracts and Blue-Chip Customers

The portfolio operates under long-term power purchase agreements (PPAs) with a weighted average contract life of nearly 24 years. Power from these projects is supplied to creditworthy C&I customers across sectors such as manufacturing, FMCG, power equipment, healthcare, and pharmaceuticals.

Notable offtakers include Britannia Industries, Jubilant FoodWorks, Hitachi Energy, and Max Healthcare, among others.

Strategic Growth Milestone

The acquisition represents a key step in Inox Clean Energy’s roadmap to achieve 3 GW of renewable energy capacity by the end of FY26. The transaction also broadens the company’s customer base to include leading Indian corporates, multinational firms, and government entities.

Commenting on the development, Bharat Saxena, CEO and Whole-time Director of Inox Clean Energy, said the addition would serve as a major growth catalyst for the company’s IPP business and reinforce its clean energy expansion strategy.

Looking ahead, Inox Clean Energy is targeting 3 GW of installed capacity by FY26-end and 10 GW by FY28, backed by its integrated platform spanning renewable power generation and solar manufacturing.