Inox Neo Energies to acquire 640 MW wind-solar hybrid from Evergreen

Inox Neo Energies Limited, a wholly owned subsidiary of Inox Clean Energy Limited, has signed definitive agreements with Evergreen Power Mauritius Private Limited and Evergreen Renewables Private Limited to acquire a wind-solar hybrid portfolio of 640 MW contracted capacity, equivalent to about 850 MW DC.

The portfolio consists of five greenfield hybrid projects in Maharashtra awarded under tenders by NTPC Limited and SJVN Limited. These include NTPC Hybrid 01 (200 MW), NTPC Hybrid 02 (200 MW), NTPC Hybrid 02 Green Shoe (120 MW), SJVN Hybrid 01 (60 MW), and SJVN Hybrid 02 (60 MW). The projects will be connected through Central Transmission Utility of India Limited’s (CTUIL) 400/220 kV substations.

The projects are being developed through special purpose vehicles owned by the Evergreen Group. In a statement, Bharat Saxena, CEO and Whole-time Director of Inox Clean Energy, said the acquisition strengthens the company’s renewable pipeline and supports India’s target of 500 GW non-fossil fuel capacity by 2030.