Inox Neo Energies Limited, the renewable IPP arm of Inox Clean Energy Limited, has signed definitive agreements with Evergreen Power Mauritius Private Limited and Evergreen Renewables Private Limited to acquire a portfolio of wind-solar hybrid projects with an aggregated contracted capacity of 640 MW, translating to around 850 MW of DC capacity.
The acquisition represents a major step in Inox Clean’s expansion strategy as it scales its renewable energy footprint across India. The projects, structured under various Special Purpose Vehicles of the Evergreen Group, are spread across five sites in Maharashtra and have been contracted under tenders awarded by SJVN Limited and NTPC Limited.
The hybrid portfolio includes two SJVN projects of 60 MW each, alongside three NTPC projects of 200 MW, 200 MW, and 120 MW respectively. All projects will be connected via CTUIL 400/220 kV substations in Maharashtra, ensuring robust grid integration and reliable power evacuation.
Bharat Saxena, CEO and Whole-time Director of Inox Clean Energy, described the acquisition as a milestone in the company’s growth journey. “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,” he said. Saxena added that the transaction not only strengthens Inox Clean’s renewable energy pipeline but also aligns with India’s broader ambition of achieving 500 GW of non-fossil fuel capacity by 2030.
The deal underscores the accelerating momentum in India’s renewable energy sector, where hybrid wind-solar projects are emerging as a key solution to ensure round-the-clock clean energy availability while supporting the country’s decarbonisation goals.
