Adar Poonawalla Family Office, through Rising Sun Holdings Pvt. Ltd., has invested ₹700 crore in Inox Clean Energy Ltd, the integrated renewable energy platform of the INOXGFL Group, as the company gears up for its next phase of expansion across renewable power generation and solar manufacturing.The investment values Inox Clean at ₹70,000 crore and comes months after the California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US, invested around ₹800 crore in earlier funding rounds, underscoring continued institutional confidence in the company’s growth strategy. The latest capital infusion follows a period of rapid expansion for Inox Clean. “We are delighted to 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,” Devansh Jain, Executive Director, INOXGFL Group, stated in an official release. The investment further expands Inox Clean’s roster of marquee investors, which includes CalPERS, RJ Corp, Authum Investments, Akash Bhansali and several other family offices and high-net-worth investors participating either directly or through their investment vehicles.Over the last 10 months, the company has completed 10 strategic acquisitions, significantly strengthening its presence across independent power production (IPP), solar manufacturing and related clean energy businesses. The acquisitions include US-based Boviet Solar’s manufacturing assets for $750 million, BlackRock-owned Global Infrastructure Partners’ (GIP) Indian renewable energy platform Vena Energy, Macquarie-owned Vibrant Energy, the Indian assets of SunSource Energy, and CalPERS-backed SkyPower, including its Africa business. The company said the acquisitions have substantially expanded its operating portfolio, manufacturing capabilities and global footprint. The fresh capital will be used to strengthen its balance sheet and provide financial flexibility to pursue new renewable energy projects, expand manufacturing capacity and evaluate strategic acquisition opportunities in India and overseas.Inox Clean operates its renewable energy IPP business through subsidiary Inox Neo and its solar manufacturing business through Inox Solar Ltd. The company is targeting 15 GW of installed renewable energy IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28 through a combination of greenfield expansion and acquisitions, with operations spanning India, the US and Africa.Published on July 2, 2026