Inox Neo Energies Limited has acquired a 640MW AC wind-solar portfolio from the Evergreen Group, a global renewable energy developer.

The transaction involved the acquisition of five hybrid wind-solar projects awarded by National Thermal Power Corporation (NTPC) and Satluj Jal Vidyut Nigam (SJVN) and located in Maharashtra.

Lakshmikumaran & Sridharan Attorneys advised Inox Neo Energies on this acquisition. The Firm's role involved advising on the structure of the transaction and assistance in negotiation and finalization of the transaction documents. Entity-specific definitive agreements were executed due to the portfolio’s multiple projects being at different stages of development.

The transaction team consisted of Kunal Arora (Partner), Anupam Misra (Associate Partner), Mitushi Garg (Principal Associate), Associates Jeevesh Jain and Satwik Mohapatra.

Saraf and Partners represented the Evergreen Group on this transaction.

Inox Neo Energies is an independent power producer of the InoxGFL Group and a subsidiary of Inox Clean Energy Limited.

Evergreen Group has a strong presence in the renewable sector with projects across the USA, Mauritius and India.

This acquisition marks a significant leap in Inox’s vision to strengthen its presence in the renewable sector.

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