Inox Clean Energy Ltd’s renewable IPP subsidiary, Inox Neo Energies, has signed definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their 640 MW portfolio of wind-solar hybrid projects. The portfolio consists of five projects in Maharashtra awarded under tenders by SJVN Ltd and NTPC Ltd: SJVN Hybrid 01 (60 MW), SJVN Hybrid 02 (60 MW), NTPC Hybrid 01 (200 MW), NTPC Hybrid 02 (200 MW), and NTPC Hybrid 02 (Green Shoe – 120 MW). These projects will be connected through CTUIL’s 400/220 kV substations in the state.
Commenting on the acquisition, Bharat Saxena, CEO and Whole-time Director of Inox Clean Energy, said, “Partnering with Evergreen Group allows us to combine our development expertise with high-quality assets that will accelerate India’s energy transition.”
The transaction marks a key milestone in Inox Clean’s expansion strategy as it strengthens its renewable footprint. The projects are being developed through various Special Purpose Vehicles (SPVs) managed by the Evergreen Group.
Once commissioned, the projects will cater to captive consumption, commercial and industrial customers, third-party buyers, and energy exchanges, reinforcing Inox Clean’s role in driving India’s clean energy transition.
Inox Clean, part of the INOXGFL Group, is the holding entity for its renewable IPP business under Inox Neo Energies and solar manufacturing business under Inox Solar. The company is building an integrated renewables ecosystem, spanning solar cell and module manufacturing and hybrid power generation.
As India’s only listed pure-play renewable O&M services company, Inox Green has built a strong and diverse portfolio with a proven track record of more than a decade. The company’s business model is backed by reliable cash flows from long-term contracts, serving leading IPPs, public sector undertakings, and a wide range of retail customers
