Inox Neo Energies has acquired 250 MWp of operational solar projects from SunSource Energy, marking a strong push into the commercial and industrial power market.
The deal also includes plans to acquire an additional 50 MWp, taking the total to 300 MWp once approvals are complete. This strengthens Inox’s position as it moves toward its 3 GW generation target by the end of FY 2026.
The solar projects span 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra, and operate through special purpose vehicles (SPVs). These assets have long-term power purchase agreements averaging 24 years, supplying clean energy to a diverse mix of commercial and industrial clients. Key customers include Britannia Industries, Jubilant Foodworks, Hitachi Energy and Max Healthcare.
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SunSource Energy, the seller, is a subsidiary of Netherlands-based SHV Energy, known for its operational expertise in renewable assets. For Inox Neo Energies, the acquisition expands both capacity and presence in the high-credit corporate power segment, a market rapidly adopting private clean energy sourcing.
According to Bharat Saxena, CEO and Whole-time Director of Inox Clean, this acquisition will be a “key growth driver” for their independent power producer business and supports the company’s goal of 10 GW of installed capacity by FY 2028.
The move reinforces Inox Neo Energies’ leadership in the commercial and industrial segment, where long-term contracts and strong customer credit quality are shaping the next phase of India’s renewable energy growth.
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