Inox Clean arm to acquire 640 MW hybrid power portfolio of Evergreen Group

Inox Neo Energies Ltd expands the clean power pipeline with a 640 MW hybrid acquisition from the Evergreen Group. The agreement strengthens India’s position in the renewable race and comes as parent Inox Clean Energy Ltd. LaThe first public offering of 6,000 crore for fuel growth (public offering).

On Thursday, Inox Neo Energies, Evergreen group companies, Evergreen Power Mauritius Pvt Ltd and Evergreen Renewables Pvt. LTD-640 MW to buy the Portfolio of Hybrid Projects, which collects the contracted capacity.

However, the financial details of the transaction have not been explained.

In a statement, the projects have always been implemented through Holding companies under various special purpose vehicles of the Green Group. The transaction covers five hybrid projects in contracted Maharashtra under tenders by SJVN LTD and NTPC LTD. The projects will be connected from CTUIL 400/220 KV transformer centers in Maharashtra.

“This purchasing, clean, reliable and affordable renewable energy scale is a one more step in our mission, Inox said Inox Clean Energy. “Partnership with the Evergreen Group enables us to combine our development expertise with high -quality assets that will accelerate India’s energy transition.”

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Saxena added that the purchase will strengthen Inox Clean’s renewable energy pipeline, and that India will be aligned with the aim of reaching non -500 GW fossil by 2030.

Inox Clean is part of the Inoxgfl group and is the holding company of the Independent Power Producer (IPP) business, which is organized under the solar production work under Inox Neo Energies and Inox Solar.

Development comes at a time when Inox Clean is preparing for the first public offering (IPO). In July, the company applied to the public offer. La6,000 crore. Most of the proposed offer will be a new problem.

According to the company website, Inox Neo Energies aims to achieve at least 3 GW hybrid renewable energy board capacity in the next two three years.

The company currently has an operational wind capacity of 107 MW and develops large -scale hybrid projects to Inox Wind, Inox Solar and third -party solar energy, supply and construction players.