Inox Clean Energy Expands Renewable Portfolio with Evergreen Group Deal

Inox Clean Energy Ltd's renewable arm, Inox Neo Energies, has partnered with Evergreen Group to acquire 640 MW of wind-solar hybrid projects in Maharashtra. This move accelerates India's energy transition and expands Inox Clean's renewable footprint through various Special Purpose Vehicles under the Evergreen Group.

Inox Clean Energy Ltd, through its renewable Independent Power Producer (IPP) arm Inox Neo Energies, has entered into an agreement with Evergreen Group firms, Evergreen Power Mauritius and Evergreen Renewables, to acquire 640 MW of wind-solar hybrid projects.

The acquisition encompasses five projects in Maharashtra, awarded through tenders by SJVN Ltd and NTPC Ltd. The projects include SJVN Hybrid 01 and 02, both 60 MW, and three from NTPC, totaling 520 MW, including a 'Green Shoe' project.

Inox Clean's CEO, Bharat Saxena, emphasizes the strategic partnership with Evergreen as pivotal in advancing India's renewable energy transition. The projects, connected via CTUIL substations, reflect a significant growth milestone for Inox Clean, part of the larger INOXGFL Group, aiming at a comprehensive renewable ecosystem.

(With inputs from agencies.)