Strategic acquisition strengthens Inox Clean’s presence in India’s fast-growing commercial and industrial green energy market
Inox Clean Energy has announced that it has successfully completed the acquisition of Vibrant Energy from Macquarie Corporate Holdings Pty Limited and other shareholders, marking a significant consolidation move in India’s renewable energy sector.
The deal, valued at approximately ₹5,000 crore, was closed within four months—an accelerated timeline despite challenging global mergers and acquisitions conditions.
Vibrant Energy operates as a diversified renewable energy independent power producer (IPP) with a total portfolio capacity of 1,337 MW.
Its assets are geographically spread across key Indian states including Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh.
The platform’s strength lies in its long-term power purchase agreements (PPAs), with an average tenure of around 20 years.
These agreements are backed by global and domestic commercial and industrial (C&I) clients such as Amazon, Sify Technologies, Coca-Cola, UltraTech Cement, and Laurus Labs.
With this acquisition, Inox Clean Energy aims to strengthen its integrated renewable energy platform by combining utility-scale power generation with solar manufacturing capabilities.
The company is positioning itself to deliver end-to-end clean energy solutions across customer segments.
Devansh Jain, Executive Director of the INOXGFL Group, said the acquisition marks a key milestone in scaling up the company’s renewable energy portfolio and deepening its presence in the high-growth C&I segment. He added that the company remains focused on achieving its target of 10 GW installed IPP capacity by FY2028.
Akhil Jindal, Group CFO of INOXGFL Group, noted that Vibrant Energy has evolved into a high-quality renewable platform with a strong base of contracted assets, and expressed confidence in driving its next phase of growth under Inox Clean’s leadership.
This acquisition highlights growing consolidation in India’s renewable energy market, particularly in the C&I segment where demand for green power is rising due to corporate decarbonisation goals.
By securing long-term PPAs with blue-chip clients, Inox Clean strengthens revenue visibility while accelerating its capacity expansion roadmap.