Indian renewable energy firm Inox Clean Energy on Thursday said it has entered into an agreement to acquire Vena Energy India’s 6-gigawatt renewable energy portfolio, bolstering its operating capacity and project pipeline.
The portfolio includes 1.2 gigawatts of operational assets, 1.8 GW of near-completion projects and a 3-gigawatt development pipeline
It comes with long-term power offtake agreements with clients such as Solar Energy Corporation of India, and a mix of commercial and industrial users and state distribution companies
Inox Clean did not disclose the deal value
The deal marks the company’s 10th acquisition in the last 10 months, including Boviet Solar’s U.S. manufacturing assets for $750 million, among others
The firm, part of the chemicals and renewables conglomerate INOXGFL Group, aims to have 10 gigawatt of renewable power generation capacity and 11 gigawatt of solar manufacturing capacity by FY28($1 = 95.7850 Indian rupees)
Reuters
