Inox Clean Energy Arm to Acquire 640 MW Wind-Solar Hybrid Portfolio from Evergreen Group
Inox Neo Energies, the renewable IPP arm of Inox Clean Energy, has signed definitive agreements to acquire Evergreen Group’s 640 MW wind-solar hybrid project portfolio in Maharashtra.
September 11, 2025. By Mrinmoy Dey
The transaction covers five hybrid projects across Maharashtra, contracted under tenders by SJVN (two projects with capacity of 60 MW each) and NTPC (one 200 MW project and another 200 MW project with 120 MW additional capacity under greenshoe option). The projects will be connected through CTUIL 400/220 kV substations in Maharashtra.
The projects are being implemented under various Special Purpose Vehicles (SPVs) held by the Evergreen Group through its holding companies.
Commenting on the milestone, Bharat Saxena, CEO and Whole-time Director, Inox Clean Energy said, “This acquisition marks another step forward in our mission to deliver clean, reliable, and affordable renewable energy at scale. Partnering with Evergreen Group allows us to combine our development expertise with high-quality assets that will accelerate India’s energy transition.”
He further added that the acquisition further strengthens Inox Clean’s renewable energy pipeline and aligns with India’s target of achieving 500 GW of non-fossil fuel capacity by 2030.
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