INOX Clean Energy has entered into an agreement to acquire the India business of Vena Energy, marking the Vena Acquisition as one of the largest renewable energy transactions announced in the country this year. The proposed deal is expected to significantly strengthen INOX Clean Energy’s presence across the solar, wind, and hybrid energy segments, supporting its long-term expansion strategy in the clean energy sector.
According to publicly available information, the Vena Acquisition includes a renewable energy portfolio of approximately 6 GW comprising operational projects, assets under construction, and projects at various stages of development. While the financial terms of the transaction have not been officially disclosed, multiple media reports have estimated the enterprise value at around ₹6,000 crores. The acquisition is expected to enhance INOX Clean Energy’s project pipeline and reinforce its position in India’s rapidly expanding renewable energy market.
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The acquired portfolio is supported by long-term power offtake arrangements involving central and state agencies as well as commercial and industrial customers. Industry observers note that such contracted assets can provide greater revenue visibility while supporting future capacity expansion plans.
Following the transaction, INOX Clean Energy’s operational and near-operational renewable energy capacity is expected to increase substantially, while its development pipeline is projected to exceed 12 GW. The acquisition aligns with the company’s broader strategy of scaling its independent power producer business and expanding its footprint in India’s rapidly growing clean energy market.
The latest deal follows a series of acquisitions completed by the company over the past year, including renewable energy and solar manufacturing assets in India and overseas. These investments form part of the INOXGFL Group’s wider renewable energy expansion strategy, which spans power generation, solar manufacturing and emerging clean energy opportunities.
As India accelerates its energy transition and renewable capacity targets, industry participants are increasingly turning to mergers and acquisitions to secure project pipelines, accelerate growth and strengthen market positioning. The Vena Energy India acquisition reflects this broader trend and highlights continued investor confidence in the country’s long-term renewable energy sector.
