Inox Clean Energy Bolsters Portfolio with Vibrant Energy Acquisition

Inox Clean Energy completed the acquisition of Vibrant Energy for Rs 5,000 crore. Despite challenges in the global M&A landscape, the deal was finalized swiftly within four months. This strategic move expands Inox's renewable energy portfolio, aligning with its goal of achieving 10 GW of installed capacity by FY28.

In a significant move towards renewable energy expansion, Inox Clean Energy announced the successful acquisition of Vibrant Energy from Macquarie Corporate Holdings Pty Limited and other shareholders. The transaction, valued at Rs 5,000 crore, was executed in a remarkably short span of four months despite global M&A turbulence.

Vibrant Energy, a key player in the renewable sector, boasts a diversified portfolio of 1,337 MW across multiple Indian states. Its long-term Power Purchase Agreements with prominent companies like Amazon and Coca-Cola underscore its market credibility.

Devansh Jain, Executive Director of INOXGFL Group, highlighted that this acquisition aligns with Inox's strategic goal of reaching 10 GW of installed capacity by the financial year 2028, enhancing its capacity to offer scalable clean energy solutions.

(With inputs from agencies.)