Archive · 22 Dec 2025
Inox Clean Energy Acquires Vibrant Energy
Inox Clean Energy, a company that focuses on renewable energy, has bought Vibrant Energy, which is owned by Macquarie Group.
This deal is worth $600 million.
Vibrant Energy has a lot of wind and solar power projects in different states of India.
Inox Clean plans to use this purchase to grow its own renewable energy projects and reach its goals of having 3 GW by 2026 and 10 GW by 2028.
The money for this deal will come from different sources, including funds raised before going public and internal savings.
Macquarie Group is happy to sell Vibrant Energy as they are moving towards managing renewable energy assets instead of owning them.
Inox Clean Energy Ltd acquires Macquarie Group's Vibrant Energy for $600 million enterprise value and $200 million equity value.
Vibrant Energy has a 1.33 GW renewable portfolio, with 800 MW operational, across multiple Indian states.
The acquisition will help Inox Clean reach its target of 3 GW by FY26-end and 10 GW by FY28.
Funding for the deal comes from pre-IPO fundraises, internal accruals, and promoter capital.
Macquarie Group is transitioning its renewable energy activities to an asset management model.
- Who
- Inox Clean Energy Ltd and Macquarie Group
- What
- Acquisition of Vibrant Energy
- When
- Announced on Sunday (specific date not mentioned)
- Where
- India (projects in multiple states)
- Why
- To add scale to Inox Clean’s renewable portfolio and achieve growth targets
- Transaction Value
- $600 million (enterprise value), $200 million (equity value)
- Vibrant Energy Portfolio
- 1.33 GW, with 800 MW operational
- Funding Sources
- Pre-IPO fundraises, internal accruals, promoter capital
- Inox Clean Target
- 3 GW by FY26-end, 10 GW by FY28
- Advisor to Macquarie
- Standard Chartered Bank
- Vibrant Energy Locations
- Madhya Pradesh, Maharashtra, Karnataka, Telangana, Andhra Pradesh
