



Inox Clean acquires 300 MW of SunSource green power portfolio in ₹1,000-cr deal
₹1,000 crore ($111 million), said two people in the know of the developments.An announcement is expected on Monday."The deal value for the acquisition is around ₹1,000 crore. With the slew of fresh acquisitions, Inox Clean may soon file a fresh DRHP (draft red herring prospectus) for its public listing," said one of the two people mentioned above.Mint had earlier reported that SHV Energy has appointed BNP Paribas to sell the solar energy assets of SunSource Energy in a deal having an equity value of around $100 million.
Sunsource Energy's total portfolio is over 600 MW, including installed and under-development projects across 20 states in the country.On 2 January, Moneycontrol reported that SHV Energy had agreed to sell its Indian solar portfolio of around 290 MW to the INOXGFL group.According to a report by CareEdge Ratings in June, the company had an operational capacity of 157 MW, of which 107 MW was solar and the balance 50 MW was wind. As of June, it had 400 MW capacity under construction, according to the report.The development comes a fortnight after the INOXGFL Group subsidiary announced acquisition of Macquarie Group's renewable energy platform Vibrant Energy for an enterprise value of $600 million.Mint had earlier reported about six bidders, including INOXGFL Group, being shortlisted to conduct due diligence for Vibrant Energy in a transaction code named ‘Project Notos’.
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