A major deal is unfolding in India’s renewable energy sector as leading domestic players, including Jindal Renewables, INOXGFL Group, and Sekura Energy, compete to acquire Vena Energy India, a 1.1 GW clean energy platform owned by Global Infrastructure Partners (GIP).

According to sources, the transaction is expected to value the platform between ₹4,500 crore and ₹5,000 crore (approximately $480–535 million), making it one of the most significant renewable energy acquisitions in recent times.

The interested bidders are currently undertaking due diligence, with binding offers likely to be submitted next month. The deal has attracted strong interest due to the platform’s scale, operational assets, and growth potential within India’s expanding clean energy market.

Earlier, several global investors—including Actis, Sembcorp, KKR, and Macquarie—had evaluated the asset but did not proceed to advanced stages of negotiations.

Vena Energy India’s ownership structure includes a 76% stake held by Global Infrastructure Partners, while the remaining 24% is jointly owned by China Investment Corporation and the Public Sector Pension Investment Board.

Notably, Global Infrastructure Partners was fully acquired by BlackRock in FY25, adding further significance to the transaction as it reshapes ownership within a high-value renewable portfolio.

The outcome of this deal is expected to influence competitive dynamics in India’s clean energy sector, as domestic players continue to scale up capacity and strengthen their presence amid rising demand for renewable power.