Inox Clean Energy completes Rs 5,000-crore acquisition of Vibrant Energy

New Delhi: Inox Clean Energy on Wednesday said it has completed the acquisition of Vibrant Energy from Macquarie Corporate Holdings Pty Limited and other shareholders at an enterprise value of Rs 5,000 crore.

The acquisition has been completed in a record time of four months, despite turbulent conditions in the global M&A ecosystem, Inox Clean Energy said in a statement.

Vibrant is a diversified renewable energy independent power producer with a total portfolio of 1,337 MW. Vibrant's portfolio comprises renewable energy assets spread across multiple states, including Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh, it said.


The platform has long-term Power Purchase Agreements (PPAs) with global blue-chip commercial and industrial customers, including Amazon, Sify, Coca-Cola, Ultratech Cement, and Laurus Labs, amongst others, with a weighted average tenure of 20 years.

With this acquisition, Inox Clean further strengthens its integrated renewable energy platform, combining utility-scale renewable power generation with solar manufacturing capabilities, enabling it to deliver comprehensive and scalable clean energy solutions to a wide spectrum of customers.

Devansh Jain, Executive Director, INOXGFL Group, said in the statement, "With this milestone, Inox Clean is on course to achieve its target of 10 GW of installed IPP capacity by FY28."