Inox Clean Energy Partners with RJ Corp for African Renewable Energy Expansion

Inox Clean Energy has initiated its Africa strategy through a joint venture with RJ Corp, marking its entry into renewable power markets across the continent, as per PTI report. 

Skypower Acquisition and 570 MW Phase 1 Plan 

Inox Clean Energy and RJ Corp have formed a joint venture to expand into African renewable energy markets. Through the JV, the partners have acquired Skypower Services MENA Ltd. 

The company stated, “Through this joint venture, Inox Clean Energy, in partnership with RJ Corp, has acquired Skypower Services MENA Ltd and aims to commission approximately 570 MW of renewable energy capacity in the first phase.” 

The acquired portfolio forms part of a multi-gigawatt pipeline supported by sovereign-backed PPAs, resulting in project IRRs of over 20%. Land and power evacuation infrastructure are already tied up to support faster execution. 

Africa Scale Up Roadmap and Financing 

The JV is targeting 2.5 GW of installed renewable energy capacity in Africa by FY29. Debt funding for the projects is expected to be secured from multilateral agencies. 

Skypower Services MENA focuses on developing, financing, building and operating utility-scale solar projects. Its pipeline spans Zambia, Zimbabwe and the Democratic Republic of Congo, markets witnessing rising demand and increased focus on clean, reliable energy infrastructure. 

Devansh Jain, Executive Director, INOXGFL Group, said, “Inox Clean's Africa foray through the acquisition of Skypower Services MENA, in partnership with RJ Corp-already an established and esteemed name in the region-marks a defining step in our global expansion journey.” 

Ravi Jaipuria, Chairman, RJ Corp, said, “Our partnership with Inox Clean for this IPP venture allows us to leverage their world-class renewable energy expertise to decarbonise our operations while ensuring reliable and cost-efficient power.” 

Broader Capacity Targets 

Inox Clean Energy operates its renewable IPP business under Inox Neo and its solar manufacturing operations under Inox Solar Limited. 

The company is targeting 10 GW of installed RE IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28, with assets spread across India and multiple global geographies. 

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Conclusion 

With a 570 MW initial rollout and a 2.5 GW Africa target by FY29, Inox Clean Energy’s JV with RJ Corp marks a structured overseas expansion aligned with its broader 10 GW and 11 GW capacity ambitions by FY28. 

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