BackBUSINESS
Inox Clean acquires 3 GW module and 3 GW cell capacity from Boviet Solar in the U.S. for $750 million
Inox Clean Energy Ltd, via its subsidiary Inox Solar Americas LLC, has acquired Boviet Solar Technology LLC's U.S. assets for $750 million, consisting of 3 GW of operational solar module capacity and a binding agreement to acquire 3 GW of cell manufacturing capacity. The module capacity is already operational, while the cell capacity is expected to be commissioned by the end of 2026. This asset purchase strengthens Inox Clean's U.S. footprint and aligns with domestic manufacturing incentives.
Why It Matters
The deal leverages the U.S. push for domestic manufacturing and incentives, potentially boosting profitability and reducing policy-related uncertainty through a localized footprint. It positions Inox Clean to participate in rising U.S. energy demand at scale.
Timeline
3 Events
Inox Clean targets 10 GW IPP capacity and 11 GW integrated solar manufacturing by FY28
May 14, 2026
Inox Clean targets 10 GW of installed renewable energy IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28, with assets spread across India and multiple key geographies including the U.S. and Africa.
Cell manufacturing capacity to be commissioned by end of 2026
May 14, 2026
The cell manufacturing capacity acquired through Boviet Solar is expected to be commissioned by the end of this year (2026).
Inox Clean signs $750 million asset purchase to acquire Boviet Solar assets in the U.S.
May 14, 2026
Inox Clean Energy Ltd, through its wholly-owned subsidiary Inox Solar Americas LLC, acquires the assets of Boviet Solar Technology LLC in the United States for $750 million. The deal includes 3 GW of operational solar module manufacturing capacity and a binding agreement to acquire 3 GW of cell manufacturing capacity. Boviet Solar is headquartered in Greenville, North Carolina. The acquisition is described as part of Inox Clean's integrated platform spanning renewable IPP and solar manufacturing businesses.