Inox Clean Energy receives ₹15 billion investment from Motilal Oswal Group, strengthening its plans for ambitious renewable energy growth across India and Africa, including scaling up manufacturing and project capacity.
Motilal Oswal Group has committed ₹15 billion to Inox Clean Energy, giving the INOXGFL Group-backed platform a fresh funding boost as it pushes ahead with its renewable energy expansion. Mercom India reported that ₹10 billion of the investment has already come in through compulsorily convertible debentures, while Energetica India said the wider round also drew support from other domestic and international investors.
Inox Clean sits at the centre of a vertically integrated clean energy model. According to the company, it combines power generation, solar manufacturing, engineering, procurement and construction, and operations and maintenance under one umbrella. Its renewable power business runs through Inox Neo Energies, while Inox Solar handles manufacturing.
The solar arm already operates a 3 GW module plant in Gujarat and is building a larger 5 GW module-and-cell facility, according to Inox Clean’s website. The company says Inox Neo Energies is targeting at least 3 GW of hybrid renewable capacity over the next two to three years, while its broader ambitions include offering end-to-end project solutions to industrial and commercial customers.
The new capital is intended to support growth and acquisitions, adding to an expansion plan that has become increasingly ambitious. Livemint reported that INOXGFL Group plans to invest ₹1 trillion in renewable energy projects by 2030 through Inox Clean, covering power generation, solar equipment manufacturing and battery storage. The publication also said the company is scaling up capacity through greenfield projects and overseas deals, with an eye on growth in India and Africa.
Devansh Jain, executive director at INOXGFL Group, described the investment as a strong endorsement of the company’s strategy and execution. He said the group’s “One Integrated Strategy” brings together renewable power generation, solar manufacturing, wind turbine manufacturing, EPC and O&M capabilities, allowing it to deliver end-to-end clean energy solutions.
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