Inox Clean Energy Ltd has signed definitive agreements to acquire Vibrant Energy, a diversified renewable energy independent power producer (IPP), from Australia-based Macquarie Corporate Holdings Pty Ltd and other shareholders. While the company did not officially disclose the transaction value, industry sources estimate the deal at around Rs 5,000 crore.

Vibrant Energy owns a renewable power portfolio of 1,337 MW, of which nearly 800 MW is already operational. The projects are spread across key renewable energy markets including Madhya Pradesh, Maharashtra, Karnataka, Telangana and Andhra Pradesh. The acquisition significantly strengthens Inox Clean Energy’s footprint across multiple states and technologies.

Vibrant Energy has long-term power purchase agreements with major commercial and industrial customers, including several global multinational corporations. These PPAs typically span an average period of 20 years, offering stable and predictable revenue streams to the acquirer.

Inox Clean Energy, part of the Noida-based INOXGFL Group, said the acquisition aligns with its strategy to rapidly scale up renewable power generation. Group Executive Director Devansh Jain said the addition of Vibrant Energy’s assets would accelerate the company’s growth trajectory. He added that with this and other transactions nearing completion, Inox Clean Energy is on track to achieve its target of 3 GW of installed renewable capacity by the end of FY26, making it one of the fastest-growing players in the sector.

The company is also targeting a total installed capacity of 10 GW by FY28.

Commenting on the sale, Macquarie Group Executive Director Mark Dooley said divesting Vibrant Energy marks another step in shifting Macquarie’s renewable energy activities towards an asset management-led model under Macquarie Asset Management Green Investments. He noted that the portfolio had expanded from 65 MW to 1,337 MW in a relatively short period.

Standard Chartered Bank acted as the exclusive advisor to Macquarie Group on the transaction.