Inox Clean Energy Acquires 250 MWp Solar Portfolio From SunSource, Expands Customer Base Across 13 States
- Özcan Berk Atakan
- 2 days ago
- 2 min read
Inox Clean Energy Limited, a company under the INOXGFL Group, announced that its renewables IPP arm, Inox Neo Energies Limited, has acquired approximately 250 MWp of operational solar projects from SunSource Energy Private Limited, with an additional ~50 MWp pending regulatory approvals. SunSource is a wholly owned subsidiary of SHV Energy, a multinational company headquartered in the Netherlands.
The acquired projects are spread across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra, and are operated through various Special Purpose Vehicles (SPVs). These projects sell power under long-term arrangements to multiple commercial and industrial (C&I) customers with strong credit profiles.
The portfolio includes long-term power purchase agreements (PPAs) with a weighted average tenure of around 24 years, supplying energy to major companies across sectors such as manufacturing, FMCG, power equipment, healthcare, and pharmaceuticals. Notable customers include Britannia Industries Limited, Jubilant Foodworks, Hitachi Energy, and Max Healthcare, among others.
This acquisition marks a significant milestone in Inox Clean’s plan to achieve 3 GW of renewable power generation capacity by the end of FY26. With the addition of SunSource’s assets, Inox Clean’s customer base now includes a broader mix of blue-chip Indian companies, global multinational corporations, and central and state government agencies. By integrating renewable power generation with its solar manufacturing capabilities, Inox Clean is building a large-scale renewable energy platform capable of delivering tailored solutions to meet the diverse energy needs of its customers.aired with effective execution, can produce meaningful and lasting impact.
Commenting on the acquisition, Bharat Saxena, CEO and Whole-time Director of Inox Clean, said, “We are pleased to announce the acquisition of SunSource Energy’s operational solar portfolio. This step will serve as a key growth driver for our IPP business and supports our mission to provide clean, reliable, and affordable renewable energy at scale. With this and other acquisitions, including Vibrant Energy’s portfolio, we are well positioned to reach our near-term target of 3 GW by FY26-end and our medium-term goal of 10 GW of installed capacity by FY28. Our integrated platform, combined with synergies across the INOXGFL Group, gives us a strong foundation to deliver renewable energy solutions to marquee customers across government and commercial sectors and to embark on a significant growth trajectory.”
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