Inox’s Solar Ambition Gets a ₹3,100 Crore Power-Up

Inox Clean Energy, along with its subsidiary Inox Solar, has raised Rs 3,100 crore through an equity funding round, valuing the company at Rs 50,000 crore (USD 5.5 billion).

The investment was led by prominent global and domestic investors, including the California Public Employees' Retirement System (CalPERS), the largest pension fund in the US. Indian investors such as Enam, Authum Investments, and the Sun Group also participated. The funds will be deployed to expand capacity across the company’s independent power producer (IPP) and solar manufacturing businesses. Inox Clean Energy is part of the Delhi-based INOXGFL Group.

Devansh Jain, Executive Director of INOXGFL, thanked the investors for their confidence and reiterated the company’s commitment to scaling renewable energy generation and solar equipment manufacturing. The IPP business is operated through Inox Neo Energies, while Inox Solar oversees solar equipment manufacturing operations.

News by Rahul Yelligetti.