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					</table><p>Renewable energy operation and maintenance (O&amp;M) company <a href="https://www.inoxgreen.com/" target="_blank" rel="noopener">Inox Green Energy</a> has signed an agreement with engineering, procurement, and construction (EPC) solutions provider<a href="https://www.kecrpg.com/" target="_blank" rel="noopener"> KEC International</a> to provide O&amp;M services for a 625 MW solar project at Bhadla, Rajasthan.</p>
<p>Inox said this order will increase its solar O&amp;M portfolio to over 3 GW.</p>
<p>SK Mathu Sudhana, CEO at Inox Green, said, “At Inox Green, we are expanding our solar O&amp;M portfolio, both organically as well as inorganically, by participating in large-scale opportunities across solar, wind, and renewable energy infrastructure O&amp;M space. Further, Inox Green also expects to add a large O&amp;M portfolio on the back of the rapid scale-up of Inox Clean’s (group company) capacities.”</p>
<p>Part of the INOXGFL Group, Inox Green Energy operates in 12 states.</p>
<p>Recently, Inox Clean Energy, the renewable arm of the INOXGFL Group, along with its subsidiary, Inox Solar, <a href="https://www.mercomindia.com/inox-clean-secures-%E2%82%B931-billion-equity-to-scale-ipp-and-solar-manufacturing?utm_source=chatgpt.com" target="_blank" rel="noopener">raised</a> equity totaling ₹31 billion (~$342.83 million), valuing the company at ₹500 billion (~$5.54 billion) pre-money.</p>
<p>Earlier this month, Inox Neo Energies <a href="https://www.mercomindia.com/inox-neo-energies-acquires-sunsources-300-mw-solar-projects" target="_blank" rel="noopener">acquired</a> around 300 MW of operational solar projects from SunSource Energy. The company is also in the process of acquiring an estimated 50 MW of solar projects pending approvals from SunSource Energy. The projects are located across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra.</p>
<p>In December 2025, Inox Clean Energy <a href="https://www.mercomindia.com/inox-clean-to-acquire-macquarie-owned-vibrant-energy" target="_blank" rel="noopener">acquired</a> the Indian renewable independent power producer (IPP) portfolios of Vibrant Energy, a Macquarie-owned IPP platform.</p>
<p>It is also in advanced stages of acquisition of a multi-gigawatt IPP portfolio and an integrated solar manufacturing facility based outside India.</p>
<p>Inox aims to install 10 GW of IPP capacity and 11 GW of integrated solar module manufacturing capacity by the financial year 2028, with expected consolidated annual revenues of ~₹300 billion (~$3.33 billion).</p>
<p>In September 2025, Inox Neo Energies <a href="https://www.mercomindia.com/inox-neo-energies-to-acquire-640-mw-renewable-hybrid-portfolio-from-evergreen" target="_blank" rel="noopener">executed</a> definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their 640 MW wind-solar hybrid projects.</p>


Inox Green Secures O&M Order for KEC’s 625 MW Rajasthan Solar Project


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					</table><p><strong> </strong><a href="https://inoxclean.com/inox-neo" target="_blank" rel="noopener">Inox Neo Energies</a>, the independent power producer (IPP) arm of <a href="https://inoxclean.com/" target="_blank" rel="noopener">Inox Clean Energy</a>, has acquired around 300 MW of operational solar projects from <a href="https://www.sunsource-energy.com/" target="_blank" rel="noopener">SunSource Energy</a>.</p>
<p>Inox Neo is also in the process of acquiring an estimated 50 MW of solar projects pending approvals from SunSource Energy.</p>
<p>Under the transaction, Inox Neo will acquire 17 special-purpose vehicles from SunSource Energy for ₹7.5 billion (~$83.18 million). NIIF Infrastructure Finance acted as the lender for this transaction.</p>
<p>The projects are located across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra. They are being operated under various special-purpose vehicles that sell power under long-term arrangements to multiple commercial and industrial companies.</p>
<p>The projects have locked in long-term power purchase agreements with a weighted average tenure of around 24 years.</p>
<p>SunSource is a wholly owned subsidiary of SHV Energy, a Netherlands-headquartered multinational company.</p>
<p>The acquisition is a step toward Inox Clean’s target of achieving 3 GW of renewable energy generation capacity by the end of the financial year (FY) 2026 and 10 GW of installed capacity by FY 2028.</p>
<p>In December 2025, Inox Clean Energy <a href="https://www.mercomindia.com/inox-clean-to-acquire-macquarie-owned-vibrant-energy" target="_blank" rel="noopener">announced</a> it is acquiring renewable energy platform Vibrant Energy from Macquarie Corporate Holdings and its other shareholders. The transaction will comprise Vibrant Energy’s portfolio of 1.3 GW of renewable energy projects, out of which 800 MW is operational.</p>
<p>In September 2025, Inox Solar, a subsidiary of INOXGFL, the parent company of Inox Clean Energy, <a href="https://www.mercomindia.com/inox-solar-commissions-1-2-gw-solar-module-capacity-in-gujarat" target="_blank" rel="noopener">commissioned</a> 1.2 GW of its 3 GW solar module manufacturing plant in Bavla, Ahmedabad, Gujarat. The manufacturing plant was established in four months.</p>
<p>In September 2025, Inox Neo <a href="https://mercomindia.com/inox-neo-energies-to-acquire-640-mw-renewable-hybrid-portfolio-from-evergreen" target="_blank" rel="noopener">executed</a> definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their 640 MW wind-solar hybrid projects. The transaction encompasses five wind-solar hybrid projects across Maharashtra, contracted by SJVN under hybrid tenders 1 and 2 (120 MW) and NTPC under hybrid tenders 1 and 2 (520 MW).</p>
<p>In another major acquisition, in June 2025, Inox Neo Energies <a href="https://www.mercomindia.com/inox-acquires-skypower-solar-india-50-mw-solar" target="_blank" rel="noopener">completed</a> the acquisition of Skypower Solar India, which operates a 50 MW solar power project in Madhya Pradesh. Skypower Solar India has an enterprise value of approximately ₹2.65 billion (~$30.97 million), which is 5.3 times the earnings before interest, taxes, depreciation, and amortization over the past 12 months.</p>


Inox Neo Energies Acquires SunSource’s 300 MW Solar Projects


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					</table><p>Gujarat-based power company <a href="https://www.torrentpower.com/index.php/site/indexs" target="_blank" rel="noopener">Torrent Power</a> has acquired a 100% stake in Wind Two Renergy from <a href="https://www.inoxwind.com/" target="_blank" rel="noopener">lnox Green Energy Services</a>.</p>
<p>The estimated acquisition cost is ₹325.1 million (~$4.09 million), representing 100% of the paid-up capital of Wind Two Renergy, Torrent said in a BSE filing.</p>
<p>The company has acquired 32.51 million equity shares of Wind Two Renergy. The acquisition will support the company&#8217;s focus on sustainable growth through renewable energy.</p>
<p>Wind Two Renergy has executed a 50 MW wind power project at Dayapar village in the Kutch district of Gujarat. The project comprises 25 wind turbine generators of lnox DF/2000/113 with an individual capacity of 2 MW each. The electricity generated from the project is being supplied under a 25 years power purchase agreement (PPA) with PTC India.</p>
<p>Wind Two Renergy was incorporated on April 20, 2017, with the objective of electricity generation from renewable energy. The company&#8217;s turnover in FY 2021-22 was ₹350.1 million (~$4.41 million).</p>
<p>In July, Torrent Power <a href="https://mercomindia.com/daily-news-wrap-up-torrent-power-receives-loa-wind-project-karnataka/" target="_blank" rel="noopener">received</a> the letter of award (LoA) from the Solar Energy Corporation of India for the long-term PPA for a 300 MW wind power project in Karnataka. The was issued in response to a bid invited by SECI for 1,200 MW inter-state transmission connected wind power projects (Tranche -XII). The company won the capacity by quoting ₹2.94 (~$0.0379)/kWh.</p>
<p>In April this year, Torrent Power <a href="https://mercomindia.com/torrent-power-acquires-a-50-mw-solar-project-in-telangana/" target="_blank" rel="noopener">signed</a> a share purchase agreement to acquire a 100% stake in the special purpose vehicle (SPV) operating a 50 MW solar project in Telangana. The agreement was signed with SkyPower Southeast Asia III investments and SkyPower Southeast Asia Holdings 2, which owned the SPV – Sunshakti Solar Power Projects. The estimated acquisition cost was ₹4.17 billion (~$54.41 million).</p>
<p>Torrent also <a href="https://mercomindia.com/torrent-acquires-25-mw-solar-project-gujarat/" target="_blank" rel="noopener">entered</a> into a share purchase agreement with Blue Daimond Properties and Balrampur Chini Mills to acquire 100% equity share capital of Visual Percept Solar Projects, a special purpose vehicle (SPV). The acquisition value was estimated at ₹1.63 billion (~$21.71 million).</p>


Torrent Power Acquires 50 MW Wind Project from Inox Green

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