Lakshmikumaran & Sridharan Attorneys advised Inox Neo Energies Limited on acquisition of 640 MW wind-solar hybrid portfolio from Evergreen Group
The full-service Indian law firm, Lakshmikumaran & Sridharan Attorneys (LKS) has advised Inox Neo Energies Limited (“Inox”), an independent power producer of the InoxGFL Group and subsidiary of Inox Clean Energy Limited, on the acquisition of a 640 MW AC wind-solar hybrid portfolio from the Evergreen Group, a global renewable energy developer.
The transaction covers five hybrid wind-solar projects awarded by NTPC and Satluj Jal Vidyut Nigam (SJVN), located across Maharashtra. LKS acted as legal counsel to Inox, advising on the transaction structure, negotiations, and execution of definitive documents.
Due to the portfolio comprising multiple projects at varied development stages, a tailored structure was adopted to manage distinct timelines, obligations, and operational requirements. The transaction involved execution of entity-specific definitive agreements, including share purchase agreements, shareholders’ agreement, options agreement, and development agreement, ensuring seamless project transfer while safeguarding commercial interests.
This acquisition represents a strategic milestone in Inox’s plan to strengthen its footprint in India’s renewable energy sector.
The Lakshmikumaran & Sridharan Attorneys team consisted of Kunal Arora (Partner), Anupam Misra (Associate Partner), Mitushi Garg (Principal Associate), Jeevesh Jain (Associate) and Satwik Mohapatra (Associate).
Evergreen Group was represented by Saraf and Partners.
This acquisition marks a significant leap in Inox’s vision to strengthen its presence in the renewable sector.
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