Inox Clean Energy Limited, part of the INOXGFL Group, has entered into a definitive agreement with Vena Group to acquire 100 per cent equity in Vena Energy India Holdings Pte Limited. The acquisition covers Vena Group’s India renewable energy platform, which comprises 5.4 GW of solar and wind assets and 2.5 GWh of battery energy storage system (BESS) capacity.
Specifically, the portfolio platform comprises around 1 GW of operational capacity. It also includes 1.7 GW of solar and wind assets and 1.2 GWh of BESS capacity at an advanced stage. In addition, it has a development pipeline of 2.7 GW and 1.3 GWh of BESS capacity. The portfolio is backed by long-term power offtake arrangements with customers including Solar Energy Corporation of India Limited, Gujarat Urja Vikas Nigam Limited, state discoms, and commercial and industrial consumers. Upon completion, Inox Clean’s operating and near-operational portfolio is expected to reach 4 GW, with a development pipeline exceeding 12 GW across solar and wind and 2.5 GWh of BESS capacity.