Inox Clean Energy Expands Portfolio With Acquisition Of Nearly 300 Mwp SunSource Solar Assets

Inox Clean Energy has announced a major expansion of its renewable energy portfolio with the acquisition of nearly 300 MWp of operational solar assets from SunSource Energy. The company has already completed the purchase of 250 MWp and is in the process of acquiring the remaining 50 MWp pending regulatory approvals. This acquisition marks a significant step in Inox Clean’s plan to reach 3 GW of installed renewable capacity by the end of FY26. The portfolio, previously owned by SunSource Energy, covers 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra. These projects operate under multiple Special Purpose Vehicles and sell power to commercial and industrial consumers through long-term agreements. The contracts come with a weighted average tenure of 24 years, providing a stable and predictable revenue stream for Inox Clean’s IPP business.

The solar assets supply electricity to several major companies across different sectors such as manufacturing, FMCG, power equipment, healthcare, and pharmaceuticals. Some of the leading customers include Britannia Industries, Jubilant Foodworks, Hitachi Energy, and Max Healthcare. The addition of these clients strengthens Inox Clean’s presence in the C&I segment while diversifying its consumer base further. After the acquisition, the company now serves a mix of blue-chip Indian firms, multinational companies, and government entities. Inox Clean stated that these projects come with strong credit-rated customers, which supports the long-term viability of the portfolio.

The company also highlighted that integrating SunSource’s operating assets with its existing renewable generation and manufacturing capabilities will help enhance operational efficiency. Inox Clean operates as part of the INOXGFL Group and is working to build a large-scale renewable platform that combines power generation with solar manufacturing. This integrated approach is aimed at providing better value to customers looking for reliable and affordable clean energy solutions. The company believes that this model will allow it to grow faster and address the increasing demand from industrial and commercial consumers seeking long-term renewable energy procurement.

Speaking about the development, Bharat Saxena, CEO and Whole-Time Director of Inox Clean Energy, said that the acquisition will play a key role in driving future growth. He added that the company is making steady progress towards its medium-term target of reaching 10 GW of installed capacity by FY28. Saxena noted that recent acquisitions, including the portfolio of Vibrant Energy, position Inox Clean strongly in the competitive renewable energy landscape. He said the company now has a healthy mix of customers across government and private sectors and that the synergies within the INOXGFL Group will support its expansion plans. According to him, the company is ready to embark on a major growth phase supported by its strengthened renewable portfolio.