Inox Clean Energy seals ₹1,000-crore buyout of SunSource’s 300 MW solar portfolio

Inox Clean Energy has agreed to acquire 300 MW of operational solar assets from SunSource Energy in a ₹1,000-crore transaction.

The deal comes ahead of Inox Clean’s planned IPO, sharpening its clean power footprint at a time of rising investor focus on renewables.

The acquisition strengthens long-term green power supply for commercial and industrial users as India accelerates its energy transition.

SunSource Energy, owned by Dutch multinational SHV Energy, will rebalance its India strategy following the asset sale.

Inox Clean Energy, the renewable arm of the Inox Group, has signed a definitive agreement to acquire a 300 MW solar power portfolio from SunSource Energy for ₹1,000 crore (about $111 million), according to people familiar with the transaction. An official announcement is expected on Monday.

The deal marks a significant consolidation move in India’s renewable sector and underscores Inox Clean’s intent to scale up stable, revenue-generating assets as it prepares for a public market debut.

What the deal includes

The portfolio consists of operational solar projects spread across multiple locations in India, supplying electricity primarily to commercial and industrial consumers through long-term power purchase agreements.

Industry executives said the assets offer predictable cash flows and minimal execution risk, making them attractive for an IPO-bound platform seeking balance sheet strength and earnings visibility.