In a strategic move to expand its renewable energy footprint, Inox Clean Energy Limited has successfully completed the acquisition of Vibrant Energy from Macquarie Corporate Holdings Pty Limited and other shareholders. The deal, valued at approximately Rs 5,000 crore, was finalized in just four months, despite challenging conditions in the global M&A environment.
Vibrant Energy, a diversified renewable energy independent power producer (RE IPP), holds a portfolio of 1,337 MW spread across key Indian states, including Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh. The assets operate under long-term Power Purchase Agreements (PPAs) with top-tier commercial and industrial clients such as Amazon, Sify, Coca-Cola, Ultratech Cement, and Laurus Labs, with an average PPA tenure of around 20 years.
The acquisition enhances Inox Clean’s integrated renewable energy platform, combining utility-scale power generation with solar manufacturing capabilities. The move positions the company to offer scalable clean energy solutions to a broad spectrum of customers, particularly in the high-growth commercial and industrial (C&I) segment.
Commenting on the acquisition, Devansh Jain, Executive Director of INOXGFL Group, said:
“The successful completion of the Vibrant Energy acquisition marks a pivotal step in scaling up Inox Clean’s renewable energy portfolio. This addition not only enhances our operational capacity but also strengthens our presence in the high-growth C&I segment, backed by long-term, high-quality counterparties. We are on course to achieve our target of 10 GW of installed IPP capacity by FY28.”
Akhil Jindal, Group CFO of INOXGFL Group, added:
“Vibrant has evolved into a high-quality renewable platform with a strong portfolio of contracted assets. Inox Clean is well-positioned to drive its next phase of growth, and we welcome the entire Vibrant team to the INOXGFL family.”
The acquisition underscores Inox Clean Energy’s commitment to building a future-ready, deeply integrated renewable energy platform while accelerating growth in India’s rapidly expanding C&I renewable sector.
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