Special Offer!

“Strategic Green Push: Inox Expands Portfolio Ahead of ₹6,000-Cr IPO”

Inox Clean Energy Eyes 650 MW Acquisition from Evergreen Renewables.                                                                                                                                                

IPO-bound Inox Clean Energy is likely to acquire 650 MW of under-construction hybrid wind-solar projects from Evergreen Renewables, people aware of the matter said. Evergreen is developing these projects at an estimated cost of ₹4,000 crore, with partial investments already made. The portfolio includes five hybrid projects across Gujarat, Tamil Nadu, and Karnataka, and the transaction is expected to be executed through Inox Neo, the renewable energy subsidiary of the INOXGFL Group. Evergreen Renewables, the Indian arm of Evergreen Power Mauritius Ltd, currently operates 300 MW capacity with a pipeline of 1,400 MW. The move aligns with Inox Clean’s aggressive growth strategy, as the group plans to invest ₹40,000 crore in renewables and chemicals over the next 2–3 years. Inox Clean is also preparing for a ₹6,000-crore IPO in the March quarter, amid strong investor interest in India’s renewable sector following the successful listings of NTPC Green, Waaree Energies, and Vikram Solar.