Inox Clean Energy is in advanced discussions to acquire Boviet Solar in a deal valued at approximately $750 million (around ₹7,000 crore), according to sources familiar with the development.

The proposed acquisition would provide the Noida-headquartered company with a strategic entry into the United States solar market, significantly expanding its international footprint. Headquartered in San Jose, Boviet Solar is ranked among the top 10 solar equipment manufacturers in the US, with a strong presence across residential, commercial, and industrial segments.

Boviet Solar is owned by Ningbo Boway Alloy Material, which recently initiated a strategic review of its US operations amid tightening trade restrictions and evolving clean energy subsidy frameworks. This environment has created an opportunity for global players like Inox Clean Energy to explore acquisitions and expand into the American market.

For Inox Clean Energy, the deal aligns with its broader strategy to scale globally across solar manufacturing and renewable energy solutions. The company already operates in power generation and solar manufacturing through its subsidiaries, including Inox Neo Energies and InoxSolar Ltd.

By acquiring Boviet Solar, Inox aims to strengthen its presence across key solar segments in the US while leveraging local manufacturing capabilities to benefit from policy incentives and growing demand for domestically produced solar equipment.

The move also reflects a broader trend of Indian renewable energy companies expanding overseas to diversify markets, mitigate policy risks, and tap into advanced economies with strong clean energy pipelines.

If completed, the acquisition would mark a significant milestone in Inox Clean Energy’s global growth journey and position it as a more integrated player in the international solar value chain.