INOX Clean Energy, part of INOXGFL Group, has partnered with diversified Indian conglomerate RJ Corp Ltd and utility-scale solar developer SkyPower to launch a fully integrated renewable energy platform to deploy more than 10 GW of solar capacity across Africa.
INOX Clean Energy and RJ Corp have acquired SkyPower Services MENA Ltd through a 50:50 joint venture, establishing a scalable independent power producer (IPP) platform focused on high-growth markets including Zambia, Zimbabwe and the Democratic Republic of Congo.
In the first phase, the platform targets around 570 MW of solar capacity, with commissioning to follow completion of transaction formalities.
The broader portfolio forms part of a multi-gigawatt development pipeline supported by sovereign-backed power purchase agreements (PPAs) at attractive tariffs, project structuring designed to limit payment and counterparty risk, targeted project IRRs exceeding 20%, secured land and evacuation infrastructure, and anticipated debt funding from multilateral institutions.
Construction on initial projects is expected to commence in the coming months.
The partnership targets 2.5 GW of installed renewable capacity in Africa by FY 2029.
The initiative also aligns with INOX Clean’s broader target of 10 GW IPP capacity and 11 GW integrated solar manufacturing capacity by FY28.
INOX Clean Energy operates across IPP development (via Inox Neo) and solar manufacturing (via Inox Solar Ltd). RJ Corp Ltd has business interests in food & beverage, QSR, dairy, retail, and healthcare, and a substantial operational footprint across African markets. It provides regional infrastructure depth, operating relationships, and long-term capital alignment to accelerate on-the-ground execution. SkyPower brings over two decades of experience in originating, structuring, financing, and advancing large-scale contracted solar infrastructure globally. Its African portfolio includes nearly 3 GWs under executed PPAs.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.