Inox Clean Energy has completed its ₹6,000 crore acquisition of Vena Energy India from GIP.
The deal was funded entirely through internal equity and refinancing.
Inox Clean's capacity is set to touch 4 GW post-acquisition.
Inox Clean Energy has finalised its purchase of Vena Energy India Holdings from BlackRock-backed Global Infrastructure Partners, in a deal worth roughly ₹6,000 crore, the company announced on Tuesday.
Notably, the entire process, from signing to closing, wrapped up in just two months, a pace the company called among the quickest in India's renewable energy space, even with multiple financiers and stakeholders involved.
1 August 2026
Get the latest issue of Outlook Business
Inox Clean covered the full deal value using its own equity along with refinancing arrangements, without external capital infusion. The company pointed to this as proof of its ability to move fast on large, multi-party transactions.
The Vena Energy India portfolio brings close to 1 GW of already-operational renewable capacity into the fold. Alongside this, 1.7 GW of solar and wind projects and 1.2 GWh of battery storage assets are in advanced stages of development. A further pipeline of 2.7 GW in solar and wind, plus 1.3 GWh of battery storage, is also part of the acquired portfolio.
Once these assets are folded in, Inox Clean's total operating and near-ready capacity will climb to approximately 4 GW. Its broader project pipeline will cross 12 GW in solar and wind, with battery storage capacity touching 2.5 GWh.
Advertisement
INOXGFL Group Executive Director Devansh Jain said the deal's swift completion underlines the company's execution capabilities, as per the statement.
Under the INOXGFL Group umbrella, Inox Clean serves as the unit overseeing renewable energy operations. It runs its power generation business via subsidiary Inox Neo and handles solar panel manufacturing through Inox Solar.
