Inox Clean Energy Limited, the integrated renewable energy platform of the INOXGFL Group, has secured an investment of ₹700 crore from Adar Poonawalla Family Office through Rising Sun Holdings Pvt. Ltd. The investment values the company at ₹70,000 crore, reflecting strong investor confidence in its long-term growth plans and expanding clean energy business.
The latest funding comes after an earlier investment of around ₹800 crore by the California Public Employees’ Retirement System (CalPERS), one of the largest pension funds in the United States. Along with CalPERS, several other investors, including RJ Corp, Authum Investments, Akash Bhansali, family offices, and high-net-worth investors, have also invested in Inox Clean and its subsidiaries.
Inox Clean has witnessed rapid growth over the past year through a combination of organic expansion and acquisitions. During the last ten months, the company completed ten strategic acquisitions, strengthening its presence across independent power production (IPP), solar manufacturing, and other clean energy businesses. These acquisitions have expanded the company’s renewable energy portfolio, manufacturing capabilities, and international footprint.
Among the major acquisitions completed by the company is the purchase of US-based Boviet Solar’s manufacturing assets in a deal valued at USD 750 million. It has also acquired Vena Energy’s Indian assets from BlackRock-owned Global Infrastructure Partners (GIP), Macquarie-owned Vibrant Energy, the Indian assets of SunSource Energy, and CalPERS-backed SkyPower, including its Africa business. These acquisitions have significantly strengthened Inox Clean’s position in the renewable energy sector.
According to the company, the fresh capital will further strengthen its balance sheet and provide greater financial flexibility to support future growth. The funds will be used to expand renewable energy projects, increase manufacturing capacity, and pursue additional strategic acquisitions in India as well as international markets.
Commenting on the investment, Devansh Jain, Executive Director of the INOXGFL Group, said the company is pleased to welcome Adar Poonawalla Family Office as an investor in Inox Clean. He said the investment reflects confidence in the company’s vision, execution capabilities, and long-term growth strategy.
Jain stated that the company has built strong momentum over the past year by successfully implementing its growth roadmap through organic expansion and strategic acquisitions. He added that completing ten acquisitions within ten months has strengthened the company’s integrated renewable energy platform and created a solid foundation for long-term value creation.
He further said the investment demonstrates the confidence of leading investors in Inox Clean’s business model, disciplined capital allocation, and ability to execute large-scale projects. As India continues to accelerate its energy transition, the company remains focused on building one of the country’s most diversified and globally competitive clean energy platforms.
Jain also welcomed Adar Poonawalla as a long-term partner in the company’s growth journey and said Inox Clean aims to create sustainable value for all its stakeholders.
The latest investment further strengthens Inox Clean’s position as one of India’s fastest-growing integrated renewable energy companies. The company believes the continued support from institutional investors and family offices highlights confidence in its expansion strategy, operational performance, and long-term growth potential. With a stronger financial position and an expanding portfolio of renewable energy assets, Inox Clean plans to continue growing its presence across the clean energy value chain while supporting India’s transition towards a more sustainable energy future.
