Adar Poonawalla Family Office Invests Rs 700 Cr in Inox Clean

New Delhi: Inox Clean Energy Limited (Inox Clean) said on Thursday that it has secured Rs 700 crore in funding from the Adar Poonawalla Family Office.

This follows an investment from CalPERS (California Public Employees’ Retirement System, the largest pension fund in the US), which had invested approximately Rs 800 crore in the previous rounds, amongst other investors, Inox Clean said in a statement.

The fresh funding of Rs 700 crore from Rising Sun Holdings Pvt Ltd, part of Adar Poonawalla Family Office, was raised at a valuation of Rs 70,000 crore, reinforcing investor confidence in Inox Clean Energy’s long-term growth strategy, it said.

Devansh Jain, Executive Director, INOXGFL Group, said, “We welcome Adar Poonawalla Family Office as an investor in Inox Clean. This investment is a strong endorsement of our vision, execution capabilities, and long-term growth strategy. Over the past year, we have built tremendous momentum by successfully executing our growth roadmap through a combination of organic expansion and strategic acquisitions.”

The investment further strengthens Inox Clean’s position as one of India’s fastest-growing and largest integrated renewable energy platforms and reflects continued investor confidence in the company’s growth trajectory, disciplined execution, and long-term strategy. The company aims to achieve 15 GW of installed RE IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.

RE IPP stands for Renewable Energy Independent Power Producer.

Inox Clean, the integrated renewable energy platform of the INOXGFL Group, operates across the renewable IPP business through its subsidiary, Inox Neo, and the solar manufacturing business through its subsidiary, Inox Solar Limited.

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