Inox Clean Energy raises INR 3,100 crore to expand renewable energy and solar manufacturing capacity

Inox Clean Energy Ltd has raised around INR 3,100 crore through an equity round involving the company and its subsidiary, Inox Solar Ltd. The company said the equity infusion will support its plans to achieve 10 GW of installed IPP capacity and 11 GW of integrated solar module manufacturing capacity by FY28.

January 7, 2026 Uma Gupta

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Inox Clean Energy Ltd, part of the INOXGFL Group, has raised around INR 3,100 crore through an equity round involving the company and its subsidiary, Inox Solar Ltd. The funding round values Inox Clean at a pre-money valuation of about INR 50,000 crore.

The funding round saw participation from leading global and domestic investors, including CalPERS (California Public Employees’ Retirement System), SUN Group Global, Authum Investments, Akash Bhansali, and several family offices and high-net-worth individuals.

Inox Clean said the funds will be used to expand capacity across both its renewable energy independent power producer (IPP) and solar manufacturing operations.

Inox Clean is rapidly scaling its renewable energy platform in India and overseas. Recently, it acquired renewable IPP portfolios totalling around 1.6 GW from Vibrant Energy, a Macquarie-owned platform, and SunSource Energy, a subsidiary of Netherlands-based SHV Energy. The company is also in advanced stages of acquisition of a multi-gigawatt IPP portfolio and an integrated solar manufacturing facility outside India.

The latest equity infusion will support Inox Clean in achieving 10 GW of installed IPP capacity and 11 GW of integrated solar module manufacturing capacity by FY28. The company expects these capacities to generate consolidated annual revenues of around INR 30,000 crore.

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