Motilal Oswal Group has committed ₹15 billion (~$157.20 million) to Inox Clean Energy, the integrated renewable energy platform of the INOXGFL Group.

Of the amount, ₹10 billion (~$104.80 million) has already been invested through compulsorily convertible debentures.

The fresh capital will be utilized to support Inox Clean’s growth trajectory and its inorganic growth initiatives.

Inox Clean operates its renewable independent power producer (IPP) business through its subsidiary, Inox Neo Energies, and its solar manufacturing business through Inox Solar. Its solar manufacturing arm is operating a 3 GW module facility in Gujarat and has a 5 GW module and cell facility under development.

Devansh Jain, Executive Director at INOXGFL Group, said the investment from Motilal Oswal Group was a strong endorsement of the company’s integrated business model, execution capabilities, and long-term vision.

“Through our ‘One Integrated Strategy’, we have built a unique ecosystem that brings together renewable power generation, solar manufacturing, wind turbine manufacturing, EPC, and operation and maintenance capabilities under one umbrella, enabling us to deliver end-to-end clean energy solutions,” he added.

In the past 18 months, Inox Clean has expanded its operating portfolio and development pipeline through strategic acquisitions, including the manufacturing assets of U.S.-based Boviet Solar.

Its Africa IPP business has also commenced project construction in Zimbabwe.

The company’s U.S. solar operations include a 3 GW module manufacturing facility, with a further 3 GW cell manufacturing facility expected to be operational soon.

Inox Clean’s renewable IPP portfolio in India reached 3 GW by June 2026 and is expected to cross 6 GW of operational capacity by the end of financial year 2027.

In July, Adar Poonawalla Family Office, through Rising Sun Holdings, had invested ₹7 billion (~$73.5 million) into Inox Clean, valuing the renewable energy platform at ₹700 billion (~$7.35 billion).

Apart from Rising Sun Holdings, other family offices and investors who have invested in Inox Clean include CalPERS, RJ Corp, Authum Investments, and Akash Bhansali.