Adar Poonawalla Family Office invests ₹700 crore in Inox Clean, values firm at ₹70,000 crore
The Adar Poonawalla family office has invested ₹700 crore in Inox Clean. The funding follows 10 acquisitions in 10 months and will support its next phase of expansion.
- Jul 2, 2026,
- Updated Jul 2, 2026 1:06 PM IST
The Adar Poonawalla Family Office has invested ₹700 crore in Inox Clean Energy Ltd, valuing the integrated renewable energy platform at ₹70,000 crore, in a move that further strengthens investor confidence in India's fast-growing clean energy sector. The investment comes as Inox Clean accelerates its expansion through a combination of acquisitions, capacity additions and new renewable energy projects.
The investment has been made through Rising Sun Holdings Pvt. Ltd, the investment arm of the Adar Poonawalla Family Office. It follows an earlier investment of around ₹800 crore by CalPERS (California Public Employees' Retirement System), the largest public pension fund in the United States, along with participation from other institutional and high-net-worth investors.
The latest fundraising comes after Inox Clean completed 10 strategic acquisitions over the past 10 months, significantly expanding its presence across renewable power generation, solar manufacturing and related clean energy businesses. Some of the notable acquisitions include US-based Boviet Solar's manufacturing assets for $750 million, BlackRock-owned Vena Energy's Indian assets, Vibrant Energy, SunSource Energy's Indian operations, and SkyPower, including its Africa business.
According to the company, the fresh capital will strengthen its balance sheet and provide additional financial flexibility to fund future growth. The proceeds will be used to expand renewable energy projects, increase manufacturing capacity and pursue strategic acquisitions in India and overseas.
Commenting on the investment, Devansh Jain, Executive Director, INOXGFL Group, said the investment represents a strong endorsement of Inox Clean's vision, execution capabilities and long-term growth strategy.
"We are delighted to welcome Adar Poonawalla Family Office as an investor in Inox Clean. Over the past year, we have built tremendous momentum through a combination of organic expansion and strategic acquisitions. Having completed ten acquisitions in the last ten months, we have significantly strengthened our integrated renewable energy platform and created a robust foundation for sustained long-term value creation," Jain said.
He added that the investment reflects the confidence of leading investors in the company's business model, disciplined capital allocation and ability to execute at scale. As India's energy transition gathers pace, the company remains focused on building one of the country's most diversified and globally competitive clean energy platforms.
Inox Clean, the renewable energy platform of the INOXGFL Group, operates across renewable independent power production through Inox Neo and solar manufacturing through Inox Solar Ltd. The company has set an ambitious target of achieving 15 GW of installed renewable energy capacity and 11 GW of integrated solar manufacturing capacity by FY28, supported by both greenfield expansion and inorganic growth. Its operations now span India as well as key international markets, including the United States and Africa.
The latest investment adds another marquee name to Inox Clean's investor base, which already includes CalPERS, RJ Corp, Authum Investments, Akash Bhansali and several family offices and high-net-worth investors, underscoring growing institutional interest in India's renewable energy sector.
The Adar Poonawalla Family Office has invested ₹700 crore in Inox Clean Energy Ltd, valuing the integrated renewable energy platform at ₹70,000 crore, in a move that further strengthens investor confidence in India's fast-growing clean energy sector. The investment comes as Inox Clean accelerates its expansion through a combination of acquisitions, capacity additions and new renewable energy projects.
The investment has been made through Rising Sun Holdings Pvt. Ltd, the investment arm of the Adar Poonawalla Family Office. It follows an earlier investment of around ₹800 crore by CalPERS (California Public Employees' Retirement System), the largest public pension fund in the United States, along with participation from other institutional and high-net-worth investors.
The latest fundraising comes after Inox Clean completed 10 strategic acquisitions over the past 10 months, significantly expanding its presence across renewable power generation, solar manufacturing and related clean energy businesses. Some of the notable acquisitions include US-based Boviet Solar's manufacturing assets for $750 million, BlackRock-owned Vena Energy's Indian assets, Vibrant Energy, SunSource Energy's Indian operations, and SkyPower, including its Africa business.
According to the company, the fresh capital will strengthen its balance sheet and provide additional financial flexibility to fund future growth. The proceeds will be used to expand renewable energy projects, increase manufacturing capacity and pursue strategic acquisitions in India and overseas.
Commenting on the investment, Devansh Jain, Executive Director, INOXGFL Group, said the investment represents a strong endorsement of Inox Clean's vision, execution capabilities and long-term growth strategy.
"We are delighted to welcome Adar Poonawalla Family Office as an investor in Inox Clean. Over the past year, we have built tremendous momentum through a combination of organic expansion and strategic acquisitions. Having completed ten acquisitions in the last ten months, we have significantly strengthened our integrated renewable energy platform and created a robust foundation for sustained long-term value creation," Jain said.
He added that the investment reflects the confidence of leading investors in the company's business model, disciplined capital allocation and ability to execute at scale. As India's energy transition gathers pace, the company remains focused on building one of the country's most diversified and globally competitive clean energy platforms.
Inox Clean, the renewable energy platform of the INOXGFL Group, operates across renewable independent power production through Inox Neo and solar manufacturing through Inox Solar Ltd. The company has set an ambitious target of achieving 15 GW of installed renewable energy capacity and 11 GW of integrated solar manufacturing capacity by FY28, supported by both greenfield expansion and inorganic growth. Its operations now span India as well as key international markets, including the United States and Africa.
The latest investment adds another marquee name to Inox Clean's investor base, which already includes CalPERS, RJ Corp, Authum Investments, Akash Bhansali and several family offices and high-net-worth investors, underscoring growing institutional interest in India's renewable energy sector.