Inox Clean Energy Acquires Vibrant Energy for Rs. 5,000 Cr.
Inox Clean Energy has acquired Vibrant Energy from Macquarie Corporate Holdings Pty Limited and other shareholders for Rs. 5,000 crore. Vibrant Energy operates a diversified renewable energy portfolio of 1,337 MW.
Vibrant Energy’s Expanded Renewable Portfolio Across Key States
According to Inox’s press release, Vibrant Energy’s portfolio comprises renewable energy assets across Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh. Additionally, Vibrant Energy has also signed Power Purchase Agreements (PPAs) with global Commercial and Industrial (C&I) customers, including Amazon, Sify, Coca-Cola, Ultratech Cement, and Laurus Labs, among others. These agreements have an average tenure of around 20 years.
Commenting on this acquisition, Mr. Devansh Jain, Executive Director, INOXGFL Group, said “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”.
Inox’s Presence in India’s Renewable Energy Sector
Inox Clean Energy operates across renewable power generation and solar manufacturing in the country. The company’s independent power producer business is housed under Inox Neo, while manufacturing operations are run through Inox Solar.
Expressing his views on Inox Clean’s capacity targets, Mr. Devansh Jain said “As we accelerate towards our near-term capacity targets, we remain focused on building a deeply integrated and future-ready clean energy platform. With this milestone, Inox Clean is on course to achieve its target of 10 GW of installed IPP capacity by FY28”.
Inox Group’s Expansion in Renewable Energy Sector
Inox Group is expanding into the renewable energy sector through its various group companies. In April 2025, Inox Solar announced an investment of Rs. 4,000 crore to set up a solar cell and module manufacturing plant in the Dhenkanal district of Odisha.
Also, the group’s wind energy arm secured multiple orders for supplying Wind Turbine Generators (WTGs) for projects across India, including Tamil Nadu, Madhya Pradesh, Karnataka, Gujarat, and Rajasthan.
Moreover, in 2024, INOX Air Products (INOX AP) announced an investment of USD 3 billion (approximately Rs. 24,931 crore) to develop a liquid green ammonia production facility in Maharashtra. At the time of the announcement, the project was expected to become operational within a period of 3 to 5 years. So, it can be anticipated that construction is currently underway on this project.
