Inox Clean Energy Completes Acquisition Of Vibrant Energy, A Macquarie-Owned IPP Platform

* Inox Clean Energy Limited completes acquisition of Vibrant Energy – a ~1337 MW diversified C&I platform at an enterprise value of ~Rs 5,000 crore

* Strengthens Inox Clean’s renewable portfolio with long-term PPAs across leading global C&I customers

* Vibrant has long-term PPAs with leading global blue-chip commercial and industrial (C&I) customers including Amazon, Sify, Coca-Cola, Ultratech Cement, Laurus Labs amongst others

Inox Clean Energy Limited (“Inox Clean”) today announced the successful completion of its acquisition of Vibrant Energy (“Vibrant”) from Macquarie Corporate Holdings Pty Limited (“Macquarie”) and other shareholders. Vibrant is a diversified renewable energy independent power producer (RE IPP) with a total portfolio of 1,337 MW.

The acquisition has been completed at an enterprise value of ~Rs 5,000 crore, in a record time of four months, despite turbulent conditions in the global M&A ecosystem.

Vibrant’s portfolio comprises renewable energy assets spread across multiple Indian states, including Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh. The platform has long-term Power Purchase Agreements (PPAs) with leading global blue-chip commercial and industrial (C&I) customers including Amazon, Sify, Coca-Cola, Ultratech Cement, 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.

Commenting on the development, Mr. Devansh Jain, Executive Director, INOXGFL Group, said, “The successful completion of the Vibrant Energy acquisition marks a pivotal step in scaling up Inox Clean’s renewable energy portfolio. This addition not only enhances our operational capacity but also strengthens our presence in the high-growth C&I segment, backed by long-term, high-quality counterparties. As we accelerate towards our near-term capacity targets, we remain focused on building a deeply integrated and future-ready clean energy platform. With this milestone, Inox Clean is on course to achieve its target of 10 GW of installed IPP capacity by FY28.”

Commenting on the transaction, Mr. Akhil Jindal, Group CFO, INOXGFL Group, said, “We are pleased to have successfully completed the acquisition of Vibrant Energy from Macquarie. Over the years, Vibrant has evolved into a high-quality renewable platform with a strong portfolio of contracted assets. We believe Inox Clean is well-positioned to take the business forward and drive its next phase of growth, and we welcome the entire Vibrant team to the INOXGFL family.”