Inox Clean Energy on Monday announced that its subsidiary, Inox Neo Energies, has successfully completed the acquisition of Skypower Solar India for an enterprise value of ₹265 crore.The strategic acquisition is aimed at boosting Inox Clean Energy’s renewable independent power producer (IPP) capacity, PTI reported.INOX Clean Energy is an integrated renewable platform spanning solar manufacturing, including cells and modules, and an IPP platform.Key details of acquisitionSkypower Solar India has a portfolio comprising 50 MW (AC)/ 57.5 MW (DC) of solar power assets located in Madhya Pradesh, a company statement said.The transaction values the asset at an enterprise value of around ₹265 crore.The project which was commissioned in the 2018 fiscal year has a robust 25-year power-purchase agreement (PPA) in place with Madhya Pradesh Power Management Company Ltd (MPPMCL), the news agency reported.Inox Clean Energy scales up capacityBharat Saxena, CEO of Inox Clean Energy, highlighted the importance of the acquisition in the company’s broader growth strategy.”At Inox Clean, we are scaling up our IPP capacity under Inox Neo both organically and inorganically. The acquisition of Skypower, a 50 MW solar power asset, aligns well with our inorganic growth strategy,” he said.He also emphasised that this asset has strong operational and financial credentials, and is value-accretive from day one.Ambitious goals Saxena further elaborated on the company’s ambitious goals. “Importantly, the acquisition is well within the Group’s valuation framework and we will continue to be on the lookout for such opportunities which will aid our plans of reaching 3 GW of hybrid installed capacity in the next 2-3 years,” he said.Inox Clean Energy’s renewable independent power producer arm, Inox Neo Energies, has completed the acquisition of Skypower Solar India, the statement said, adding that the 50 MW (AC) / 57.5 MW (DC) solar project, commissioned in FY18, is located in Khandwa district of Madhya Pradesh. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Inox Neo Energies has purchased Skypower Solar India in a deal worth ₹265 crores. Here are the details regarding the acquisition.
