New Delhi: Inox Clean Energy Limited, through its renewable Independent Power Producer (IPP) arm Inox Neo Energies Limited, today announced the execution of definitive agreements with Evergreen Power Mauritius Private Limited and Evergreen Renewables Private Limited (collectively, the Evergreen Group) to acquire a portfolio of wind-solar hybrid projects totaling 640 MW of contracted capacity, equivalent to approximately 850 MW of DC capacity.
This strategic acquisition marks a significant milestone in Inox Clean’s growth journey as it continues to scale its renewable energy footprint across India. The portfolio comprises five hybrid projects located in Maharashtra, awarded under tenders by SJVN Limited and NTPC Limited, and implemented through Special Purpose Vehicles (SPVs) held by the Evergreen Group.
Project Details
- SJVN Hybrid 01 – 60 MW
- SJVN Hybrid 02 – 60 MW
- NTPC Hybrid 01 – 200 MW
- NTPC Hybrid 02 – 200 MW
- NTPC Hybrid 02 (Green Shoe) – 120 MW
All projects will be connected via CTUIL 400/220 kV substations, ensuring efficient grid integration and transmission reliability.
Leadership Commentary
Commenting on the acquisition, Bharat Saxena, CEO and Whole-time Director of Inox Clean Energy, said: “This acquisition marks another step forward in our mission to deliver clean, reliable, and affordable renewable energy at scale. Partnering with Evergreen Group allows us to combine our development expertise with high-quality assets that will accelerate India’s energy transition. The acquisition further strengthens Inox Clean’s renewable energy pipeline and aligns with India’s target of achieving 500 GW of non-fossil fuel capacity by 2030.”
This transaction reinforces Inox Clean Energy’s commitment to sustainable growth and its role in driving India’s clean energy future.
