Inox Clean Energy on Monday said its subsidiary, Inox Neo Energies, has acquired 250 MWp of solar power projects from SunSource Energy and is in the process of acquiring an additional 50 MWp, taking the total acquired capacity to 300 MWp.

SunSource Energy is a wholly owned subsidiary of Netherlands-based multinational SHV Energy. The acquired solar projects are spread across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu and Maharashtra, and are operated through multiple special purpose vehicles supplying power to commercial and industrial customers.

According to Inox Clean, the projects have long-term power purchase agreements with a weighted average tenure of 24 years. The electricity is supplied to a diversified customer base across sectors such as manufacturing, FMCG, power equipment, healthcare and pharmaceuticals. Key customers include Britannia Industries Limited, Jubilant Foodworks, Hitachi Energy and Max Healthcare.

The acquisition marks a significant milestone in Inox Clean’s plan to achieve 3 GW of renewable generation capacity by the end of FY26. The company is also targeting 10 GW of installed capacity by FY28 through a combination of organic growth and acquisitions.

Bharat Saxena, chief executive officer and whole-time director of Inox Clean, said the SunSource portfolio would be a key growth driver for the company’s independent power producer business. He added that recent acquisitions, including the Vibrant Energy portfolio, have strengthened Inox Clean’s position to scale up rapidly in the renewable energy space.

Inox Clean said it is building an integrated renewable ecosystem encompassing the manufacture of solar modules and cells, which will be used partly for captive hybrid power projects and partly supplied to third-party customers.