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Inox Clean Energy has completed the acquisition of Vibrant Energy at an enterprise value of INR 5,000 crore, strengthening its position in India's renewable energy sector. The deal was closed within four months despite challenging global M&A conditions. Vibrant brings a diversified portfolio of 1,337 MW across multiple states and long-term power purchase agreements with leading global and domestic companies. The acquisition supports Inox Clean's strategy to expand its integrated renewable platform and move towards its target of achieving 10 GW installed independent power producer capacity by FY28.
Inox Clean Energy has completed the acquisition of Vibrant Energy from Macquarie Corporate Holdings Pty Limited and other shareholders at an enterprise value of INR 5,000 crore. The transaction was finalised within a period of four months, even as global merger and acquisition activity remained affected by uncertain market conditions and financing challenges. Advertisement
Vibrant Energy operates as a diversified renewable energy independent power producer with a total portfolio of 1,337 MW. Its assets are spread across key states including Madhya Pradesh, Maharashtra, Karnataka, Telangana and Andhra Pradesh, giving it a geographically balanced presence in India's renewable energy market.
The company has secured long-term power purchase agreements with a range of global and domestic commercial and industrial clients such as Amazon, Sify, Coca-Cola, Ultratech Cement and Laurus Labs. These agreements have a weighted average tenure of around 20 years, ensuring stable and predictable revenue visibility for the platform.
With this acquisition, Inox Clean Energy has further strengthened its integrated renewable energy platform. The company is combining large-scale renewable power generation with its existing solar manufacturing capabilities, which allows it to offer end-to-end clean energy solutions to a wider set of customers. The move also aligns with the broader trend of consolidation in India's renewable energy sector, where companies are scaling portfolios to meet rising corporate demand for green power and government-backed clean energy targets.
Devansh Jain, Executive Director of INOXGFL Group, stated that with this milestone, the company remains on track to achieve its target of reaching 10 GW of installed independent power producer capacity by FY28. The acquisition is expected to support faster capacity addition and improve the group's positioning in both utility and commercial renewable segments.
In recent years, Inox Clean Energy has been expanding its footprint through both organic growth and strategic acquisitions, as demand for renewable energy continues to rise across industrial and commercial sectors. The addition of Vibrant Energy's operational assets and contracted portfolio is likely to strengthen its execution pipeline and long-term growth visibility.
Source PTI
5th Jun, 2025
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