Inox Clean Energy, part of the INOXGFL Group, is raising Rs 34 billion through a 20-year loan from the National Bank for Financing Infrastructure and Development (NaBFID) to refinance existing debt following the acquisition of Vibrant Energy. The long-tenure facility is reportedly being structured to support post-acquisition balance sheet consolidation. The loan is expected to be priced in the range of 8 per cent to 8.50 per cent.
The refinancing, structured under a restricted group framework, will be ring-fenced against seven renewable energy projects comprising solar, wind, and hybrid assets. Vibrant Energy operates through 13 special purpose vehicles (SPVs), of which the debt in seven entities is being refinanced under this arrangement. These SPVs hold operational renewable energy capacities and are backed by long-term power purchase agreements with corporate offtakers, including Amazon, SIFY, and Ultratech.
In December 2025, Inox Clean Energy inked definitive agreements to acquire Vibrant Energy from Macquarie Corporate Holdings and its other shareholders. Furthermore, Standard Chartered Bank served as the sole financial advisor to Macquarie Group for the transaction.
