Indian renewable energy firm Inox Clean Energy is in talks to acquire US-based Boviet Solar for approximately $750 million. The move seeks to expand Inox's international footprint and navigate the evolving regulatory landscape for solar equipment in the United States.
Inox Clean Energy, a Noida-based Indian renewable energy company, plans to acquire US-based Boviet Solar for approximately $750 million (around Rs 7,000 crore). The deal aims to establish Inox's presence in the US residential, commercial and industrial solar market. Boviet Solar, headquartered in San Jose, California, is among the top 10 solar equipment makers in the US and is owned by Chinese group Ningbo Boway Alloy Material, which announced a strategic review of its US business two months ago citing regulatory challenges.
Indian renewable energy firm Inox Clean Energy plans to acquire US-based Boviet Solar for approximately $750 million (around 7,000 crore). The deal aims to establish the Noida-based company's presence in the US residential, commercial and industrial solar installation market. Boviet Solar, headquartered in San Jose, California, is among the top 10 solar equipment makers in the US and is owned by Chinese group Ningbo Boway Alloy Material, which announced a strategic review of its US business two months ago citing trade and policy challenges.
