Inox Green Clarifies it is not Acquiring Macquarie's Vibrant

Inox Green Energy Services has issued a formal clarification denying reports that it is acquiring Vibrant Energy, the renewable energy platform owned by Macquarie Asset Management. The company said the reports are incorrect and do not relate to its business or strategic plans, seeking to address market speculation that emerged following recent media coverage.

The clarification follows reports linking Inox Green to a proposed acquisition of Vibrant Energy, a transaction estimated at around $200 million in equity value. Inox Green stated that the reported deal pertains to another group entity, Inox Clean Energy Limited, and not to Inox Green Energy Services, which is a separately listed and operated company.

According to information previously disclosed, Inox Clean Energy has entered into definitive agreements to acquire Macquarie’s Vibrant platform. Vibrant Energy operates a diversified renewable portfolio across India, with wind and solar assets located in multiple states. Its operational capacity is estimated at about 800 MW, supported by a development pipeline aimed at future capacity additions.

Macquarie Asset Management has been reviewing and selectively exiting parts of its Indian renewable portfolio as part of a broader portfolio rebalancing strategy. The Vibrant platform includes long-term power purchase agreements with commercial and industrial customers, providing predictable cash flows and asset-level stability.

Inox Green explained that it has no direct or indirect involvement in the transaction and holds no economic interest in the Vibrant acquisition. The clarification was issued in response to a query from stock exchanges, which sought confirmation following market speculation and media reports.

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The company reiterated that its core focus remains on providing operations and maintenance services for renewable energy assets, including wind projects, within and outside the INOXGFL Group. Following the clarification, Inox Green’s shares moved higher on the BSE, as investors reacted positively to the removal of uncertainty around the reported transaction