Participated · Equity · Jan 2026

Inox Clean Energy combines renewable power generation, solar manufacturing and associated EPC and O&M capabilities under the INOXGFL Group’s integrated strategy. Its India renewable IPP portfolio reached 3 GW at the end of June 2026 and is expected to exceed 6 GW of operational capacity by the end of FY27. The solar manufacturing vertical includes an operational 3 GW module facility in Gujarat and a 5 GW module and cell facility under development; its U.S. operations have a 3 GW module manufacturing facility with a further 3 GW cell facility expected to become operational soon. The company has also commenced project construction in Zimbabwe as part of its Africa IPP business. Inox Clean has rapidly scaled via organic expansion and strategic acquisitions, including assets from Boviet Solar and platforms backed by global investors such as GIP’s Vena Energy, Macquarie’s Vibrant Energy, SHV’s SunSource Energy, and CalPERS-backed SkyPower. Recent capital commitments (₹700 crore from Adar Poonawalla Family Office and the ₹1,500 crore commitment from Motilal Oswal Group) are intended to fund its next phase of growth, particularly inorganic expansion.