Inox Clean Energy Ltd executed definitive agreements with Australia-based Macquarie Corporate Holdings Pty Ltd and other shareholders to acquire Vibrant Energy, a diversified renewable energy independent power producer (RE IPP) in India. While the Noida-based INOXGFL Group company did not disclose the transaction value, industry sources estimate the deal at around ₹5,000 crore.
Portfolio Strengthens Inox Clean’s Operating Capacity
The acquisition brings Vibrant Energy’s entire 1,337 MW renewable portfolio under Inox Clean Energy, of which 800 MW is currently operational. The remaining capacity is under various stages of development. The projects are geographically diversified and spread across Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh, strengthening Inox Clean’s pan-India renewable footprint.
Long-Term PPAs with C&I Customers
Vibrant Energy has established long-term power purchase agreements (PPAs) with major commercial and industrial (C&I) customers, including several large global multinational corporations. These PPAs typically span an average duration of 20 years, providing strong revenue visibility and long-term cash flow stability.
Accelerating Inox Clean’s Growth Trajectory
Devansh Jain, Executive Director, INOXGFL Group, said, “This acquisition will significantly accelerate Inox Clean’s journey to scale up its renewable power generation capacity. With this and other acquisitions nearing closure, Inox Clean is on course to reach its targeted installed renewable energy capacity of 3 GW by the end of FY26, making it the fastest company in India to achieve this milestone.” He further added that Inox Clean aims to achieve 10 GW of installed renewable capacity by FY28, underlining the group’s long-term clean energy ambitions.
Macquarie Transitions to an Asset Management Model
Mark Dooley, Executive Director, Macquarie Group, said, “The sale of Vibrant Energy, an asset held on Macquarie Group’s balance sheet, represents a further step in transitioning our renewable energy activities to an asset management model under Macquarie Asset Management Green Investments. We are proud to have partnered with the Vibrant Energy team to grow the portfolio from 65 MW to 1,337 MW in a short span of time.”
Strategic Step in India’s Renewable Energy Expansion
As reported by msn.com, with this acquisition, Inox Clean Energy significantly enhances its scale, geographic reach, and contracted capacity. The deal positions the company strongly to capitalise on India’s accelerating renewable energy transition while reinforcing its status as one of the fastest-growing clean energy platforms in the country.
