Inox Clean Energy Acquires Vena Energy India for ₹6,000 Cr

Inox Clean Energy Limited has finalized the acquisition of Vena Energy India Holdings Pte Ltd from BlackRock-owned GIP for approximately ₹6,000 crore. This rapid transaction significantly bolsters Inox Clean’s footprint in the Indian renewable energy sector.

The deal was executed as one of the fastest in the renewable energy sector, completing within just two months. Funding for this strategic move came through a combination of internal equity and refinancing.

Key Acquisition Figures

• Acquisition Cost: ₹6,000 crore
• Transaction Speed: two months

Vena Energy India’s portfolio, now integrated into Inox Clean, encompasses a substantial array of renewable assets. These include operational capacities and advanced-stage projects across solar, wind, and battery storage technologies.

Vena Energy India’s Integrated Portfolio

• Operational Capacity: 1 GW
• Solar and Wind (advanced stages): 1.7 GW
• Battery Energy Storage System (BESS) assets (advanced stages): 1.2 GWh
• Development Pipeline (Solar and Wind): 2.7 GW
• Development Pipeline (BESS): 1.3 GWh

Following this acquisition, Inox Clean Energy’s overall portfolio sees a dramatic expansion, positioning it as a more formidable player in India’s green energy landscape. The company’s combined operational and near-operational capacity is set to reach approximately 4 GW.

Inox Clean’s Expanded Renewable Footprint

• Operating and Near-Operational Portfolio: Approximately 4 GW
• Development Pipeline (Solar and Wind): Exceeding 12 GW
• Development Pipeline (BESS): 2.5 GWh

Devansh Jain, Executive Director of INOXGFL Group, underscored the company’s