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Inox Neo Energies has acquired a 640 MW portfolio of wind-solar hybrid projects from Evergreen Group, covering five projects in Maharashtra under tenders by SJVN Ltd and NTPC Ltd. The projects will be integrated through CTUIL 400/220 kV substations and executed via SPVs held by Evergreen Group. The acquisition strengthens Inox Clean Energy's renewable portfolio and supports its goal of creating an integrated ecosystem of solar manufacturing and hybrid power generation. Upon commissioning, the electricity will serve captive users, commercial and industrial clients, and third-party buyers, supporting India's ongoing energy transition.
Inox Clean Energy Ltd's renewable arm, Inox Neo Energies, has signed agreements with Evergreen Group companies, including Evergreen Power Mauritius and Evergreen Renewables, to acquire a portfolio of 640 MW wind-solar hybrid projects. The acquisition covers five hybrid projects in Maharashtra that were contracted through competitive tenders by SJVN Ltd and NTPC Ltd. Advertisement
The specific projects include SJVN Hybrid 01 - 60 MW, SJVN Hybrid 02 - 60 MW, NTPC Hybrid 01 - 200 MW, NTPC Hybrid 02 - 200 MW, and NTPC Hybrid 02 (Green Shoe) - 120 MW. These projects will be connected via CTUIL 400/220 kV substations within Maharashtra, ensuring smooth integration into the state's power grid.
Bharat Saxena, CEO and Whole-time Director of Inox Clean Energy, stated that partnering with Evergreen Group allows the company to combine its development expertise with high-quality assets, accelerating India's energy transition. The projects are structured under various Special Purpose Vehicles (SPVs) managed by Evergreen Group through its holding companies, enabling focused project execution.
Inox Clean Energy, part of the INOXGFL Group, oversees the renewable IPP business through Inox Neo Energies and runs a solar manufacturing business under Inox Solar. The company plans to develop an integrated renewables ecosystem, manufacturing solar modules and cells that will be partly used in its own hybrid renewable power projects and partly supplied to external customers.
After commissioning, the electricity generated from these projects will be supplied to captive users, commercial and industrial clients, power exchanges, and other third-party buyers, contributing to both domestic energy supply and commercial energy demand.
Source PTI
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