Inox Clean Energy Ltd, the integrated renewable energy platform of the INOXGFL Group, announced that it has raised approximately ₹3,100 crore through an equity funding round involving the company and its subsidiary, Inox Solar Ltd. The funding round values Inox Clean at a pre-money valuation of around ₹50,000 crore and saw participation from leading global and domestic investors, including the California Public Employees’ Retirement System (CalPERS), SUN Group Global, Authum Investments, Akash Bhansali, along with several family offices and high-net-worth individuals.
The fresh capital will be deployed to accelerate capacity expansion across both renewable energy independent power producer (IPP) operations and solar manufacturing verticals. Inox Clean Energy has been rapidly expanding its renewable energy footprint in India and overseas, and the latest equity infusion is expected to support the company’s medium-term growth targets of achieving 10 GW of installed IPP capacity and 11 GW of integrated solar module manufacturing capacity by FY28. These capacities are projected to generate consolidated annual revenues of approximately ₹30,000 crore.
Inox Clean recently strengthened its portfolio through strategic acquisitions, including renewable IPP assets aggregating nearly 1.6 GW from Vibrant Energy, a Macquarie-owned platform, and SunSource Energy, a wholly owned subsidiary of Netherlands-based SHV Energy. The company is also in advanced stages of acquiring a multi-gigawatt IPP portfolio and an integrated solar manufacturing facility outside India, further bolstering its international presence.
Commenting on the funding round, Devansh Jain, Executive Director, INOXGFL Group, said, “The investment round reflects strong confidence from leading long-term global and domestic investors in Inox Clean’s vision. The company’s combination of organic growth, strategic acquisitions, and global expansion has laid a strong foundation to meet its FY28 targets, while its diversified international presence and disciplined business model position it for sustained value creation for stakeholders over the coming decade.”
The equity infusion will allow Inox Clean to accelerate its growth strategy across both renewable energy generation and solar manufacturing, reinforcing its position as one of India’s leading integrated renewable energy platforms. The company’s holistic approach, combining organic development, strategic acquisitions, and global expansion, is expected to strengthen its operational capabilities and contribute to the broader renewable energy transition.
With this funding, Inox Clean Energy continues to solidify its leadership in the renewable energy sector, while delivering on its mission to provide clean, sustainable, and scalable energy solutions in India and abroad.
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