M&A

M&A

Inox Neo Energies acquires Skypower Solar India at Rs.265-Cr valuation

Economic Times  

Ahmedabad-based Inox Neo Energies, renewable independent power producer arm of Inox Clean Energy Ltd has acquired Delhi-headquartered solar power project Skypower Solar India for an enterprise value of INR 265 crore.Incorporated in 2015, Skypower Solar India has a portfolio comprising 50 MW (AC)/ 57.5 MW (DC) of solar power assets located in Madhya Pradesh. The power generated is tied up under a 25-year PPA (power-purchase agreement) with Madhya Pradesh Power Management Company Ltd (MPPMCL).