3 Indian Firms Lock in for Vena Energy’s 1.1 GW Portfolio

Three domestic players are locked in competition to acquire Vena Energy India’s 1.1 gigawatt renewable platform, in what could become one of the sector’s defining deals this year. Jindal Renewables, InoxGFL Group, and Edelweiss-backed Sekura Energy have moved into advanced due diligence, with binding offers expected next month.

Global Infrastructure Partners is selling the platform at a projected valuation between Rs 4,500-5,000 crore. The assets include 957 MW already feeding into the grid and another 59 MW under construction, backed by long-term power purchase agreements averaging 17 years at Rs 4.5 per kilowatt-hour.

KKR, Sembcorp, and other global funds dropped out during earlier rounds, leaving the field to Indian contenders, signalling domestic consolidation gaining momentum as the country’s renewable capacity pushes past 283 GW.

India added 45 GW of solar capacity in FY 2025-26 alone, driving intense merger activity. Platform acquisitions have become the preferred route for companies looking to expand quickly without building from scratch, and this sale underscores that trend.