Inox Clean Energy subsidiary to acquire 640 MW wind-solar hybrid portfolio from Evergreen Group

11 Sep 2025 , 03:21 PM

Inox Clean Energy Ltd on Thursday announced that its subsidiary, Inox Neo Energies, has signed definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their portfolio of 640 MW wind-solar hybrid projects.

The projects, being developed under various special purpose vehicles (SPVs) of the Evergreen Group, represent a significant addition to Inox Clean’s renewable energy footprint. Spread across Maharashtra, the five hybrid projects have been contracted under tenders by SJVN and NTPC, and will be connected to the grid through CTUIL 400/220 kV substations.

“This acquisition marks another step forward in our mission to deliver clean, reliable and affordable renewable energy at scale,” said Bharat Saxena, CEO and Whole-time Director, Inox Clean Energy. “By partnering with Evergreen Group, we are combining our development expertise with high-quality assets that will accelerate India’s energy transition.”

The deal bolsters Inox Clean’s pipeline and strengthens its contribution toward India’s target of achieving 500 GW of non-fossil fuel capacity by 2030.

Part of the INOXGFL Group, Inox Clean Energy is the holding company for its renewables independent power producer (IPP) arm, Inox Neo Energies, and its solar manufacturing unit, Inox Solar. The company aims to create an integrated renewable ecosystem by manufacturing solar cells and modules for captive use as well as for sale to external customers.

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