Inox Clean Energy, the renewables arm of INOXGFL group, has signed a definitive agreement to acquire Vena Energy India’s 6 GW renewable energy portfolio.

Vena Energy India’s portfolio includes 1.2 GW of operational renewable energy assets, 1.8 GW of projects at an advanced stage of development and nearing commissioning, and 3 GW of projects under development.

According to the company, the portfolio also includes long-term power offtake arrangements with the Solar Energy Corporation of India, Gujarat Urja Vikas Nigam, commercial and industrial consumers, and state distribution companies.

After the acquisition, Inox Clean Energy said its operating and near-operational portfolio would increase to about 4 GW, and its development pipeline would exceed 12 GW across solar, wind, hybrid, and other clean energy projects.

The company said this is its 10th strategic acquisition in the past 10 months.

In April 2026, Inox Solar Americas, a renewable energy platform of Inox Clean Energy, announced its decision to acquire 100% equity in Boviet Solar Technology (North Carolina), the U.S.-based solar module manufacturing subsidiary of Ningbo Boway Alloy Material.

In the same month, Inox Clean Energy completed the acquisition of Vibrant Energy, a renewable energy platform owned by Macquarie and other shareholders, for approximately ₹50 billion (~$536.28 million).

In January of the same year, Inox Neo Energies acquired around 300 MW of operational solar projects from SunSource Energy.

In 2025, Inox Neo Energies completed the acquisition of Skypower Solar India, which operates a 50 MW solar power project in Madhya Pradesh.

Inox Clean Energy said its solar module manufacturing capacity stands at about 6 GW, including 3 GW in India and 3 GW in the U.S. The company also plans to commission two solar cell manufacturing facilities by December 2026: a 4.8 GW facility in Dhenkanal, Odisha, and a 3 GW facility in the U.S.

The company has set a target of more than 3 GW of annual capacity additions.

It has set a target of 10 GW of installed renewable independent power producer capacity and 11 GW of integrated solar manufacturing capacity by the financial year 2028, with assets across India, the U.S., Africa, and other key global markets.

Over the past year, INOXGFL Group has committed investments of over ₹500 billion (~$5.22 billion) across renewable power generation and solar manufacturing platforms in India, the U.S., and Africa.