Inox Clean Energy, a part of the INOXGFL group, on Thursday said it has signed agreement to buy Vena Energy’s 6 GW renewable energy portfolio. Though the company did not announce the deal size, sources said the enterprise valuation was at Rs 6000 crore.

Vena’s portfolio comprises of 1.2 GW of operational renewable energy assets, 1.8 GW of projects at an advanced stage of development and nearing commissioning, and an additional 3 GW of developmental-stage projects.

The portfolio includes long-term power offtake arrangements with stated owned entities including Solar Energy Corporation of India (SECI), Gujarat Urja Vikas Nigam(GUVNL), as well as a diversified mix of commercial & industrial (C&I) consumers and state distribution companies.

Following the transaction, Inox Clean Energy’s operating and near-operational portfolio will increase to nearly 4 GW, while its total development pipeline will cross 12 GW across solar, wind, hybrid and emerging clean energy opportunities.

Its solar module manufacturing capacity stands at nearly 6 GW (3 GW in India and 3 GW in the U.S.), with two additional solar cell manufacturing facilities—a 4.8 GW plant in Dhenkanal, Odisha, and a 3 GW plant in the U.S.—expected to be commissioned by December 2026. Additionally, its current IPP portfolio stands at nearly 4 GW, supported by a 2 GW project development pipeline.

Over the last ten months, Inox Clean Energy has completed ten acquisitions across renewable power generation and solar manufacturing, . Some of the acquisition include US-based Boviet Solar’s manufacturing assets for $ 750 million, Macquarie-owned Vibrant Energy, Indian assets of SunSource Energy, and CalPERS backed SkyPower, including its Africa business.

Devansh Jain, Executive Director, INOXGFL Group, said, “. This acquisition will be yet another important step in our strategy of building a deeply integrated clean energy platform at scale. Today, as INOXGFL Group adopts ‘One Integrated’ strategy, enhancing presence across the renewables value chain, all of our group entities supplement each other’s growth.”

Akhil Jindal, Group CFO, INOXGFL Group, said, “. Over the past year, the INOXGFL Group has committed investments of over ₹50,000 crore across renewable power generation and solar manufacturing platforms spanning India, the United States and Africa. These investments have been guided by a clear vision of building a globally competitive clean energy platform with leadership positions across key segments of the energy transition value chain.”