Inox Clean Energy Limited (Inox Clean), a part of the INOXGFL Group, has now completely acquired Vena Energy India’s renewable energy platform.
In a press release, the firm said that Inox Clean Energy has completed the acquisition for approximately ₹6,000 crore.
This platform formed part of BlackRock-owned GIP’s Vena Energy India Holdings Pte Ltd and Vena Group’s India renewable platform.
Till as of July 2026 Inox Clean Energy has expanded its order book to 4.4 GW.
AdvertismentExecuting AcquisitionsThe successful closure further supports Inox Clean’s continued pursue to growth opportunities across the renewable energy value chain.
Inox Clean Energy Limited (Inox Clean), a part of the INOXGFL Group, has now completely acquired Vena Energy India’s renewable energy platform. In a press release, the firm said that Inox Clean Energy has completed the acquisition for approximately ₹6,000 crore.
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Despite involving multiple stakeholders and financing partners, the deal emerged as one of the fastest signing-to-execution transactions, with the transaction completed within two months. This platform formed part of BlackRock-owned GIP’s Vena Energy India Holdings Pte Ltd and Vena Group’s India renewable platform.
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Inox Clean Energy said the acquisition comprises Vena Energy India’s renewable portfolio of approximately 1 GW of operational capacity, 1.7 GW of solar and wind capacity, and 1.2 GWh of BESS assets at advanced stages. Along with this, the company also has an additional 2.7 GW of solar and wind capacity and a 1.3 GWh BESS development pipeline.
Following completion, Inox Clean’s operating and near-operational portfolio is expected to reach approximately 4 GW, with a development pipeline exceeding 12 GW of solar and wind capacity and 2.5 GWh of BESS.
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The entire transaction value has been secured through internal equity and refinancing, highlighting Inox Clean’s strong financing capabilities and ability to execute complex transactions at speed. The acquisition includes the transition of Vena Energy India’s management, ensuring continuity across development, commercial, technical, and operational functions and enabling a seamless transition of the platform.
Till as of July 2026 Inox Clean Energy has expanded its order book to 4.4 GW. The company noted that, out of the 9.34 GW of renewable energy capacity awarded through tenders in Q1 FY27, 4.55 GW (49%) comprised wind, hybrid, and Firm and Dispatchable Renewable Energy (FDRE) projects.
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Executing Acquisitions
The successful closure further supports Inox Clean’s continued pursue to growth opportunities across the renewable energy value chain.
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Commenting on the deal completion, Devansh Jain, Executive Director, INOXGFL Group, said, "The successful completion of the Vena Energy India acquisition, and the speed with which we have closed this transaction, demonstrates our fast execution capabilities, which we believe is a key USP and gives us an edge over competition. Backed by over 20 years of leadership in renewables, a track record that is irreplaceable, we have built deep expertise and conviction in this sector."
