Inox Clean Energy Limited, the integrated renewable energy platform of the INOXGFL Group, on Thursday announced that it has received an investment commitment of about $157 million (Rs 1,500 crore) from the Motilal Oswal Group to fuel its expansion plans.
Of the committed investment, the company has already secured Rs 1,000 crore through compulsorily convertible debentures (CCDs), it said in a statement.
The capital proceeds will be utilised towards Inox Clean’s growth trajectory, particularly fuelling inorganic growth initiatives, the statement added.
The investment follows a Rs 700-crore infusion from the Adar Poonawalla Family Office into Inox Clean. Other marquee investors in Inox Clean and its subsidiaries include CalPERS, RJ Corp, Hero Group, Authum Investments, Akash Bhansali, and other family offices & HNI investors.
Inox Clean operates across the renewable IPP (Independent Power Producer) business under its subsidiary Inox Neo Energies Limited and the solar manufacturing business under its subsidiary Inox Solar Limited.
Over the past 18 months, Inox Clean Energy has scaled through organic expansion and strategic acquisitions, strengthening its operating portfolio and development pipeline. These include the manufacturing assets of U.S. based Boviet Solar, as well as renewable energy platforms backed by leading global investors such as BlackRock-owned GIP’s Vena Energy, Macquarie-owned Vibrant Energy, SHV-owned SunSource Energy, and CalPERS-backed SkyPower.
The company’s India renewable IPP portfolio stood at 3 GW as of June 2026, with operational capacity expected to cross 6 GW by the end of FY27. Its Africa business has also started construction of a project in Zimbabwe.
In solar manufacturing, Inox Clean currently operates a 3 GW module facility in Gujarat and is developing an additional 5 GW module and cell manufacturing facility in India. In the US, it has established a 3 GW module manufacturing facility, with a 3 GW cell facility expected to be operational soon.
