M&A

M&A

Inox Clean acquires 300 MW of SunSource solar portfolio for Rs.1,000-Cr

Mint  

New Delhi-based Inox Clean Energy, part of the INOXGFL Group, is to acquire a 300 MW solar power portfolio from Dutch multinational SHV Energy-owned SunSource Energy for INR 1,000 crore (USD 111 million). The acquisition is expected to be funded through pre-IPO fundraises, internal accruals, and capital from promoters. SHV Energy had appointed BNP Paribas to facilitate the sale of SunSource Energy’s solar assets.SunSource Energy's overall portfolio includes over 600 MW of installed and under-development projects across 20 states in the country. Inox Clean Energy's operational capacity, as of June, was 157 MW, comprising 107 MW of solar and 50 MW of wind, with an additional 400 MW under construction.