ENGIE, NLC India, Rays Power Among Winners of SECI’s 1.2 GW Solar Plus 3.6 GWh Storage Auction

Textile Firm Agarwal Industries Benefits from Rooftop Solar Switch

NTPC Subsidiary Invites Bids for 7 MW Rooftop Solar Systems in Odisha

EV Charging Firm ROADGRID Raises ₹120 Million in Pre-Series A Round

BIRAC Invites Proposals for Biomass-to-Green Hydrogen Pilot Projects

Trump Withdraws US from Global Climate Pacts, Solar Alliance, and IRENA

POWERGRID Wins 3 GW Renewable Energy Transmission Projects in Karnataka

Daily News Wrap-Up: Andhra Pradesh Approves ₹158 Billion in Clean Energy Projects

PM Green Wins WBSEDCL’s 250 MW/1,000 MWh Standalone BESS Auction

China Issues Guidance on Strengthening Solar Intellectual Property Rights


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/12/amazon_polly_88167.mp3?version=1766394311">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://inoxclean.com/" target="_blank" rel="noopener">Inox Clean Energy</a> has announced it is acquiring renewable energy platform <a href="https://www.vibrantenergy.in/" target="_blank" rel="noopener">Vibrant Energy</a> from <a href="https://www.macquarie.com/in/en.html" target="_blank" rel="noopener">Macquarie Corporate Holdings</a> and its other shareholders.</p>
<p>Inox has signed definitive agreements for the acquisition.</p>
<p><a href="https://www.sc.com/en/" target="_blank" rel="noopener">Standard Chartered Bank</a> was the exclusive advisor to Macquarie Group on this transaction.</p>
<p>The companies did not disclose the deal value.</p>
<p>Vibrant Energy has a portfolio of 1.3 GW of renewable energy projects out of which is 800 MW is operational. The projects are located across Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh.</p>
<p>It has signed long-term power purchase agreements with blue-chip commercial and industrial customers, with a weighted average tenure of 20 years.</p>
<p>Devansh Jain, Executive Director at <a href="https://www.inoxgfl.com/" target="_blank" rel="noopener">INOXGFL Group</a>, said post completion of this acquisition and other acquisitions nearing closure, Inox Clean’s renewable energy installed capacity will reach 3 GW by the end of the financial year (FY) 2026.</p>
<p>Inox Clean has set a target of achieving 10 GW of installed capacity by FY 2028.</p>
<p>The company said that with its 10 GW operational power generation capacity, along with 11 GW of solar module and 8 GW of solar cell manufacturing capacity targets by FY 2028, Inox Clean would achieve a consolidated annual revenue of about ₹300 billion (~$3.34 billion).</p>
<p>Mark Dooley, Executive Director, Macquarie Group, said that the sale of Vibrant Energy is a further step in the transition of its renewable energy activities to an asset management model under Macquarie Asset Management Green Investments. “We are proud to have worked with the Vibrant Energy team to grow the portfolio from 65 MW to 1337 MW in a short time.”</p>
<p>Inox Clean is a part of the INOXGFL Group. It is the holding company for INOXGFL’s renewables IPP business, held under Inox Neo Energies, and its solar manufacturing business, under Inox Solar.</p>
<p>In September 2025, Inox Neo Energies <a href="https://www.mercomindia.com/inox-neo-energies-to-acquire-640-mw-renewable-hybrid-portfolio-from-evergreen" target="_blank" rel="noopener">executed</a> definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their 640 MW wind-solar hybrid projects.</p>
<p>In June 2025, it also <a href="https://www.mercomindia.com/inox-acquires-skypower-solar-india-50-mw-solar" target="_blank" rel="noopener">completed</a> the acquisition of Skypower Solar India, which operates a 50 MW solar power project in Madhya Pradesh.</p>


Inox Clean to Acquire Macquarie-Owned Vibrant Energy


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/06/amazon_polly_80677.mp3?version=1749625455">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The National Company Law Tribunal, Chandigarh bench, has approved the merger between Inox Wind Energy (<a href="https://www.iwel.co.in/" target="_blank" rel="noopener">IWEL</a>) and Inox Wind (<a href="https://inoxwind.com/about-inoxwind" target="_blank" rel="noopener">IWL</a>), both INOXGFL Group companies.</p>
<p>The company announced the merger in a BSE listing.</p>
<p>As a result of the merger, 632 equity shares of face value of ₹10 (~$0.12) each of IWL will be allotted for every 10 equity shares of face value of ₹10 (~$0.12) each of IWEL. The shares are expected to be credited to shareholders of IWEL within one and a half months, subject to regulatory processes and clearances.</p>
<p>The merger will reduce IWL’s liabilities by ₹20.5 billion (~$239 million), strengthening the company’s balance sheet.</p>
<p>IWEL provides erection, procurement, and commissioning of wind farms, and IWL is a manufacturer of wind turbine generators with a manufacturing capacity of 1.5 GW.</p>
<p>INOXGFL said the companies are hoping that combining their operations will help them achieve cost savings through economies of scale, improved resource utilization, the elimination of redundant functions and operations, and streamlining of regulatory compliance.</p>
<p>The merger will also simplify and streamline the wind business vertical of the INOXGFL Group, with no holding company structure. The overall consolidation of businesses, financial, operational, and other synergies may result in enhancing value for various stakeholders of the companies, the listing said.</p>
<p>In May, IWEL <a href="https://www.mercomindia.com/inox-wind-raises-9-billion-reduce-debt" target="_blank" rel="noopener">raised</a> ₹9 billion (~$108.05 million) through the sale of equity shares of Inox Wind via block deals on the stock exchanges.</p>
<p>In the fourth quarter of the financial year 2025, IWL <a href="https://www.mercomindia.com/inox-wind-logs-highest-ever-quarterly-profit-in-q4-order-book-grows-21" target="_blank" rel="noopener">reported</a> its highest-ever quarterly profit of ₹1.9 billion (~$22.2 million), a 391% increase from last year’s ₹390 million (~$4.5 million).</p>
<p>Last December, INOXGFL <a href="https://www.mercomindia.com/inox-solar-manufacturing-module-cell" target="_blank" rel="noopener">announced</a> its foray into solar manufacturing through Inox Solar, a privately held entity by the promoters. Inox Solar aims to achieve an initial manufacturing capacity of 5 GW of solar modules and 2.5 GW of solar cells by 2026, with a capital expenditure of ₹15 billion (~$176.73 million).</p>


Company Law Tribunal Approves Inox Wind Energy’s Merger with Inox Wind 


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/10/amazon_polly_71724.mp3?version=1729690427">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>GFCL EV Products, a manufacturer of intermediate materials for lithium-ion batteries and a part of <a href="https://www.inoxgfl.com/" target="_blank" rel="noopener">INOXGFL Group</a>, raised ₹10 billion (~$118.9 million) at an equity valuation of ₹250 billion (~$2.9 billion).</p>
<p>The promoters of the INOXGFL Group led the fundraising round along with several marquee investors, including the family offices of several business groups in India.</p>
<p>The funds will be used to meet the company&#8217;s CAPEX requirements as it seeks to capitalize on global opportunities in the electric vehicles (EV) and energy storage systems (ESS) sectors.</p>
<p>With the newly raised funds and diversified battery materials offerings, the company aims to capitalize on the opportunities arising from the U.S. Inflation Reduction Act and the strategic diversification globally of supply chains away from a single origin country.</p>
<p>GFCL EV Products offers a range of battery material products catering to the EV and energy storage system ecosystem, capitalizing on the significant global energy transition opportunity. It has fully integrated manufacturing capabilities with backward integration into AHF, LiF, and captive fluorspar.</p>
<p>The company said the global opportunity for the EV battery chain is estimated to reach $300 billion by 2030. The projected increase in the global lithium battery demand from ~ 1100 GWh to 5000-6000 GWh by 2030 will lead to significant demand for the battery materials that GFCL EV caters to.</p>
<p>INOXGFL Group’s renewable power generation platform, IGREL Renewables, also <a href="https://www.mercomindia.com/inox-groups-renewables-equity-investment" target="_blank" rel="noopener">raised</a> ₹3 billion (~$35.8 million) in equity capital from prominent investors. The capital infusion will support IGREL Renewables’ expansion of its renewable energy portfolio in September.</p>
<p>In September, Inox Wind (<a href="https://inoxwind.com/" target="_blank" rel="noopener">IWL</a>) <a href="https://www.mercomindia.com/inoxs-epc-subsidiary-resco-to-raise-%E2%82%B93-5-billion-via-sale-of-shares" target="_blank" rel="noopener">announced</a> that the board of its subsidiary Resco Global Wind Services (<a href="https://rescowind.com/" target="_blank" rel="noopener">Resco Global</a>), an engineering, procurement, and construction solutions provider, has approved a proposal to raise ₹3.5 billion (~$41.7 million) by selling a single-digit equity stake to marquee investors.</p>


Battery Component Manufacturer GFCL EV Products Raises ₹10 Billion

inoxgfl

Get the most relevant India solar and clean energy news.

RECENT POSTS