New Delhi: Leading renewables company Inox Wind’s subsidiary Inox Clean Energy has announced the purchase of nearly 300 MW of operational solar power assets from SunSource Energy, as the company looks to go public later this year. The deal, worth ₹1,000 crore, has been funded through pre-IPO fundraises, internal accruals and promoter contributions, widely reported sources have said.
The deal is expected to significantly enhance Inox Clean’s solar energy footprint, which is at 157 MW currently. SunSource Energy, a group company of Netherlands-based SHV Energy, currently has these solar power assets spread across 13 states, including Uttar Pradesh, Karnataka, Maharashtra, and Tamil Nadu, and operates them through multiple special purpose vehicles under long-term power purchase agreements for commercial and industrial customers.
In December 2025, Inox Clean Energy acquired 1.3 GW of renewable energy plants from Vibrant Energy, as the company looks to achieve its target of 3 GW of renewable energy generation capacity by the end of 2026.
“Acquisition will be a key growth driver for our IPP business and is a step towards our mission to offer clean, reliable, and affordable renewable energy at scale. Vibrant Energy’s portfolio and other acquisitions are placing us well to achieve our near-term target of 3 GW by FY26-end and medium-term target of 10 GW of installed capacity by FY28. We now have a healthy mix of marquee customers across government and the C&I space,” Bharat Saxena, Chief Executive Officer and whole-time Director, Inox Clean Energy said.
Inox Clean Energy is widely expected to refine its Draft Red Herring Prospectus (DHRP) after withdrawing its previous ₹6,000 crore IPO filing, given that it had raised ₹5,000 crore in pre-IPO funding. This development could affect its updated DHRP, given that the company has high debt from its previous acquisitions. Though keenly awaited, the amount to be raised will depend on how the company manages its cash flows and debt, given that its aggressive expansions could affect its profitability.
