Inox Clean Acquires 250 MW Operational Solar Portfolio from SunSource Energy

Inox Clean Energy Ltd., an INOXGFL Group company, has acquired around 250 MWp of operational solar power projects from SunSource Energy Pvt. Ltd. through its renewables IPP arm, Inox Neo Energies Ltd.. An additional ~50 MWp is under acquisition, subject to regulatory approvals.

SunSource Energy is a wholly owned subsidiary of Netherlands-headquartered SHV Energy. The acquired solar projects are spread across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu and Maharashtra. These assets operate through multiple special purpose vehicles (SPVs) and supply power under long-term agreements to commercial and industrial (C&I) customers with strong credit profiles.

The portfolio has long-term power purchase agreements with a weighted average tenure of around 24 years. Power is supplied to customers across sectors such as manufacturing, FMCG, power equipment, healthcare and pharmaceuticals. Key customers include Britannia Industries, Jubilant Foodworks, Hitachi Energy and Max Healthcare.

The acquisition marks a significant milestone in Inox Clean’s plan to achieve 3 GW of renewable energy capacity by the end of FY26. With this transaction, the company has further expanded its customer base to include blue-chip Indian corporates, multinational companies, and government entities.

Commenting on the development, Bharat Saxena, CEO and Whole-time Director of Inox Clean Energy, said the acquisition would act as a key growth driver for the company’s IPP business and support its clean energy expansion plans.

Inox Clean is targeting 3 GW of installed capacity by FY26-end and 10 GW by FY28, supported by its integrated platform combining renewable power generation and solar manufacturing.