Debasis Mohapatra
Bengaluru, 3 July 2026
Adar Poonawalla Family Office’s investment arm, Rising Sun Holdings has invested Rs 700 crore in Renewable energy company, Inox Clean Energy Ltd.
This investment by Adar Poonawalla Family Office was done at a valuation of Rs 70,000 crore for Inox Clean Energy.
This follows an investment from CalPERS (California Public Employees’ Retirement System, the largest pension fund in the US), which had invested around Rs 800 crore in the previous rounds, amongst other investors, Inox Clean said in a statement.
“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,” Devansh Jain, Executive Director of INOXGFL Group said.
Inox Clean counts CalPERS, RJ Corp, Authum Investments, Akash Bhansali, as well as several family offices and high-net-worth investors.
Inox Clean has been on an acquisition spree in recent quarters and has completed 10 acquisitions over the past 10 months in its bid to expand its renewable energy platform across independent power production, solar manufacturing and related businesses.
The acquisitions include US-based Boviet Solar’s manufacturing assets for $750 million, Vena Energy’s Indian assets, Vibrant Energy, the Indian assets of SunSource Energy, and CalPERS-backed SkyPower, including its Africa business.
