Inox Neo Energies, the independent power producer (IPP) arm of Inox Clean Energy, has acquired around 300 MW of operational solar projects from SunSource Energy.

Inox Neo is also in the process of acquiring an estimated 50 MW of solar projects pending approvals from SunSource Energy.

The projects are located across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra. They are being operated under various special-purpose vehicles that sell power under long-term arrangements to multiple commercial and industrial companies.

The projects have locked in long-term power purchase agreements with a weighted average tenure of around 24 years.

SunSource is a wholly owned subsidiary of SHV Energy, a Netherlands-headquartered multinational company.

The acquisition is a step toward Inox Clean’s target of achieving 3 GW of renewable energy generation capacity by the end of the financial year (FY) 2026 and 10 GW of installed capacity by FY 2028.

In December 2025, Inox Clean Energy announced it is acquiring renewable energy platform Vibrant Energy from Macquarie Corporate Holdings and its other shareholders. The transaction will comprise Vibrant Energy’s portfolio of 1.3 GW of renewable energy projects, out of which 800 MW is operational.

In September 2025, Inox Solar, a subsidiary of INOXGFL, the parent company of Inox Clean Energy, commissioned 1.2 GW of its 3 GW solar module manufacturing plant in Bavla, Ahmedabad, Gujarat. The manufacturing plant was established in four months.

In September 2025, Inox Neo executed definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their 640 MW wind-solar hybrid projects. The transaction encompasses five wind-solar hybrid projects across Maharashtra, contracted by SJVN under hybrid tenders 1 and 2 (120 MW) and NTPC under hybrid tenders 1 and 2 (520 MW).

In another major acquisition, in June 2025, Inox Neo Energies completed the acquisition of Skypower Solar India, which operates a 50 MW solar power project in Madhya Pradesh. Skypower Solar India has an enterprise value of approximately ₹2.65 billion (~$30.97 million), which is 5.3 times the earnings before interest, taxes, depreciation, and amortization over the past 12 months.