Inox Neo Energies acquires 50 MW solar project in MP

Inox Neo Energies Private Limited, a subsidiary of Inox Wind Limited, has acquired Skypower Solar India Private Limited. The deal adds a 50 MW alternating current (AC) / 57.5 MW peak direct current (DC) solar project to Inox’s growing renewable energy portfolio.

The total enterprise value of the transaction is approximately Rs 2.65 billion. 

The project is located in the Khandwa district of Madhya Pradesh. It was commissioned during the financial year 2017–2018 and is fully operational. The electricity generated from the plant is sold under a 25-year power purchase agreement with Madhya Pradesh Power Management Company Limited.

The acquisition fits into Inox Clean Energy’s broader strategy to expand its renewable energy footprint across India. The company aims to scale up to 3 GW of hybrid installed capacity over the coming years through both organic and inorganic growth.