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Jindal Renewables, INOXGFL Among Key Contenders for Vena Energy India Acquisition
Apr 13, 2026
Leading domestic clean energy players, including Jindal Renewables and INOXGFL Group, have entered the race to acquire Vena Energy India, a 1.1 GW renewable energy platform backed by BlackRock’s Global Infrastructure Partners (GIP). Sekura Energy is also among the interested bidders, according to sources familiar with the development.
The platform is expected to be valued between Rs4,500 crore and Rs5,000 crore, with potential buyers currently conducting due diligence. Binding bids are likely to be submitted in the coming month, indicating strong deal momentum in India’s renewable energy sector.
Vena Energy India is majority-owned (76%) by GIP, while the remaining 24% stake is jointly held by China Investment Corporation and Public Sector Pension Investment Board. Notably, BlackRock completed the acquisition of GIP in FY25, strengthening its global infrastructure investment portfolio.
The company operates a diversified renewable portfolio across multiple states, including Madhya Pradesh, Gujarat, Karnataka, Maharashtra, and Telangana. Its assets include wind, solar, and hybrid projects, reflecting a well-balanced clean energy mix.
Vena Energy India is part of Singapore-based Vena Energy, which has a global pipeline exceeding 39 GW. The platform traces its origins to a major 2017 transaction, when a consortium led by GIP, along with global investors, acquired renewable assets from Equis Funds Group in a multi-billion-dollar deal.
The potential sale underscores increasing consolidation and investor interest in India’s renewable energy market. Recent years have seen several high-value transactions, as both domestic and global players seek to scale their portfolios amid the country’s accelerating clean energy transition.
With multiple bidders in contention and strong asset fundamentals, the deal is expected to attract competitive offers, further highlighting the robust M&A activity in the sector.