Inox Clean Nears ₹2,500 Crore Deal for Athena Renewables
What Happened
Inox Clean Energy is close to acquiring Athena Renewables from UK-based investment firm Actis for an enterprise value of about ₹2,500 crore. The two sides have reportedly reached an in-principle agreement, with the transaction nearing completion. Athena operates four solar power plants with a combined capacity of more than 554 MW across Madhya Pradesh and Andhra Pradesh.
Key Takeaways
The acquisition would significantly boost Inox Clean Energy's renewable power portfolio, taking its operational generation capacity close to 5 GW. The deal is part of Inox's aggressive expansion strategy ahead of a planned IPO and underscores continued consolidation in India's fast-growing renewable energy sector.