Inox Neo Energies, a branch of Inox Green Energy Services under the INOXGFL Group, has acquired Skypower Solar India for an enterprise value of ₹265 crore.
The deal involves a solar power project of 50 MW (AC) / 57.5 MW (DC) located in the Khandwa district of Madhya Pradesh.
The solar plant started working in the financial year 2018. It has a 25-year power purchase agreement (PPA) with Madhya Pradesh Power Management Company Ltd (MPPMCL), which means the company will earn steady income for a long time.
This deal supports Inox Neo Energie’s plan to grow by buying other companies instead of building everything from scratch. It is an important move toward their goal of building 3 GW of hybrid renewable energy in the next 2–3 years.
The company said the solar project is in good financial shape and works efficiently. It offers strong value with an EV/EBITDA multiple of around 5.3× from the start, with healthy returns based on its earnings compared to its cost.
Bharat Saxena, CEO of Inox Clean Energy, said that the resources fit perfectly within the group’s valuation framework and strengthen its presence in the renewable space.
Apart from this deal, the INOXGFL Group has been actively building a vertically integrated clean energy ecosystem.
The group works in all parts of the renewable energy process. This includes making solar panels and cells, building wind turbines, and handling complete projects from getting land to setting up systems that deliver power.
With a combined market capitalization of nearly USD 10 billion across its listed companies, the group is firmly positioning itself as a key player in India’s green energy transition.
This strategic takeover not only adds to Inox Neo Energie’s operational capacity but also strengthens its presence in the geography.
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