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Inox Neo Expands Solar Portfolio with 300 MW Acquisition from SunSource

Inox Neo Energies, the independent power producer arm of Inox Clean Energy, has acquired approximately 300 MW of operational solar capacity from SunSource Energy, strengthening its presence in India’s commercial and industrial (C&I) renewable energy segment.

In addition to the completed transaction, Inox Neo is in the process of acquiring around 50 MW of additional solar assets, subject to regulatory and other customary approvals.

Asset Footprint and Offtake Structure

The acquired projects are spread across 13 Indian states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra. These assets are housed under multiple special-purpose vehicles (SPVs) and supply power under long-term agreements to a diversified base of commercial and industrial consumers.

The portfolio benefits from long-duration power purchase agreements, with a weighted average contract tenure of about 24 years, providing long-term revenue visibility.

SunSource Energy is a wholly owned subsidiary of Netherlands-based SHV Energy, a global multinational energy company.

Strategic Growth Plans

The acquisition aligns with Inox Clean Energy’s growth roadmap, which targets 3 GW of renewable generation capacity by the end of FY 2026 and 10 GW of installed capacity by FY 2028.

In December 2025, Inox Clean Energy announced its plan to acquire Vibrant Energy, a renewable energy platform owned by Macquarie Corporate Holdings and other shareholders. The transaction includes 1.3 GW of renewable assets, of which 800 MW is already operational.

Manufacturing and Hybrid Portfolio Expansion

In September 2025, Inox Solar, a subsidiary of INOXGFL (the parent company of Inox Clean Energy), commissioned 1.2 GW of its planned 3 GW solar module manufacturing facility in Bavla, Ahmedabad, Gujarat. The plant was completed within four months.

During the same month, Inox Neo signed definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire 640 MW of wind-solar hybrid capacity. The transaction covers five hybrid projects in Maharashtra, contracted by:

• SJVN under hybrid tenders 1 and 2 (120 MW), and

• NTPC under hybrid tenders 1 and 2 (520 MW).