Inox Clean Energy Limited has secured a Rs 700 crore investment from Rising Sun Holdings Pvt. Ltd, the Adar Poonawalla Family Office, at a valuation of Rs 70,000 crore, strengthening the company’s capital base as it expands its integrated renewable energy platform.
The investment follows an earlier capital infusion of approximately Rs 800 crore from the California Public Employees’ Retirement System (CalPERS), alongside investments from other institutional and high-net-worth investors.
According to the company, the fresh capital will be used to strengthen its balance sheet and support future growth initiatives, including the development of new renewable energy projects, expansion of manufacturing capacity, and strategic acquisitions in India and international markets.
The announcement comes after Inox Clean completed 10 strategic acquisitions over the past 10 months, expanding its presence across independent power production (IPP), solar manufacturing, and clean energy businesses. The acquisitions include Boviet Solar’s manufacturing assets in the United States, Vena Energy’s Indian assets, Vibrant Energy, SunSource Energy’s Indian operations, and SkyPower, including its Africa business.
Commenting on the investment, Devansh Jain, Executive Director of the INOXGFL Group, said the investment reflects confidence in Inox Clean’s long-term growth strategy, execution capabilities, and integrated renewable energy business model.
He added that the company has strengthened its renewable energy platform through a combination of organic expansion and strategic acquisitions and remains focused on building one of India’s most diversified and globally competitive clean energy companies.
The company said the latest investment reinforces its position as one of India’s fastest-growing integrated renewable energy platforms while providing additional financial flexibility to pursue long-term expansion opportunities.
Inox Clean’s existing investor base includes CalPERS, RJ Corp, Authum Investments, Akash Bhansali, and several family offices and high-net-worth investors participating directly or through investment vehicles.
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