Inox Clean Energy Acquires Boviet Solar for $750 Mn to Enter US MarketMindspace REIT to Consider Fund Raising via Debt Instruments

Inox Clean Energy (INOXGFL Group) has acquired Boviet Solar Technology's assets in the US via its subsidiary Inox Solar Americas for $750 million, marking its entry into the American solar manufacturing market. Key Highlights: Capacity: 3 GW operational module manufacturing + binding agreement for 3 GW cell capacity (commissioning by Dec 2026). Policy Edge: Assets qualify for US Section 45X tax credits, boosting margins and reducing tariff/policy risk via local production. Customer Base: Established relationships with large multinational energy companies ensure immediate offtake visibility. Strategic Fit: The deal supports Inox Clean's "Make in America, For America" strategy, capitalizing on surging US power demand from AI data centers and electrification. It is the ninth marquee acquisition in nine months, accelerating the roadmap to 11 GW manufacturing + 10 GW IPP capacity by FY28. Financial Outlook: EBITDA projected to reach ~₹5,000 crore by FY27 and ~₹12,000 crore by FY28, driven by high-margin US operations and policy incentives.