Inox Clean Energy forms equal joint venture with RJ Corp by acquiring Skypower Services MENA

Inox Clean Energy Limited has formed an equal joint venture with RJ Corp Limited to enter the African independent power producer market and has acquired Skypower Services MENA Limited through the venture. The joint venture targets commissioning about 570 MW of renewable energy capacity in the first phase backed by sovereign power purchase agreements, with land and evacuation arrangements stated to be in place. The platform is targeting 2.5 GW of installed capacity in Africa by 2028-29 with debt financing expected to be mobilised from multilateral agencies.