Motilal Oswal Group Commits ₹1,500 Crore to Inox Clean for Acquisitions and Expansion

Motilal Oswal Group has committed ₹1,500 crore to Inox Clean Energy, the renewable energy platform of INOXGFL Group, as per The Economic Times news report. The investment is being made through compulsorily convertible debentures (CCDs). 

Of the total commitment, ₹1,000 crore has already been deployed. The remaining ₹500 crore is expected to be drawn as acquisitions and capital expenditure plans progress. 

Funding for Vena Energy Assets 

The funding will partly support Inox Clean’s acquisition of a renewable energy portfolio from Vena Energy. The overall transaction is valued at about ₹6,000 crore. 

The acquisition is being financed through operating company debt and equity. Motilal Oswal’s investment forms part of the equity funding for the transaction. 

The remaining ₹500 crore may also be used for other acquisitions and greenfield or brownfield capital expenditure under consideration. 

Renewable Power Capacity 

Inox Clean’s renewable independent power producer (IPP) portfolio stood at 3 GW as of June 2026. The company expects operational capacity to exceed 6 GW by the end of FY27. 

The platform operates in wind, solar and hybrid power generation, along with solar manufacturing. Its India operations include a 3 GW module manufacturing facility in Gujarat. 

A 5 GW module and cell manufacturing facility is under development. In the US, Inox Clean has a 3 GW module facility, with another 3 GW cell facility expected to become operational soon. 

Acquisitions and Investors 

Inox Clean has expanded through acquisitions and new projects over the past 18 months. Its portfolio includes renewable assets and platforms backed by CalPERS, Global Infrastructure Partners, Macquarie-backed Vibrant Energy and SHV-backed SunSource Energy. 

The company had earlier received ₹700 crore from the Adar Poonawalla Family Office. Other investors include RJ Corp, Hero Group, Authum Investments, Akash Bhansali, family offices and high-net-worth investors. 

Read More: N Chandrasekaran to Step Down as Tata Sons Chairman Ahead of AGM! 

Conclusion 

The ₹1,500 crore commitment will be used mainly for acquisitions and capital expenditure. The investment adds to the funding available for Inox Clean’s power generation and solar manufacturing businesses. 

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