Inox Clean Energy, RJ Corp Form JV to Develop 570 MW Renewable Capacity in Africa

Noida, February 13, 2026: Inox Clean Energy Limited (Inox Clean), part of the INOXGFL Group, has announced a joint venture with RJ Corp Limited to enter the African renewable energy market as an Independent Power Producer (IPP). The partnership marks a strategic step in expanding both companies’ global renewable energy footprint.

As part of the joint venture, Inox Clean Energy and RJ Corp have acquired Skypower Services MENA Ltd. and plan to commission approximately 570 MW of renewable energy capacity in the first phase. The projects are part of a broader multi-gigawatt development pipeline supported by sovereign-backed power purchase agreements (PPAs) signed at competitive tariffs. According to the companies, land and power evacuation infrastructure are already in place, supporting faster project execution and stronger fundamentals.

Inox Clean has outlined plans to scale its installed renewable energy capacity in Africa to 2.5 GW by FY29. Debt financing for the projects is expected to be secured from multilateral agencies. The joint venture structure combines Inox Clean’s experience in developing and operating renewable energy assets with RJ Corp’s established operational presence across African markets.

The Africa portfolio is being acquired through the takeover of Skypower Services MENA Ltd., which focuses on developing, financing, building, and operating utility-scale solar projects. The development pipeline spans countries including Zambia, Zimbabwe, and the Democratic Republic of Congo, where demand for reliable and clean energy infrastructure is increasing.

Mr. Devansh Jain, Executive Director, INOXGFL Group, said, “Inox Clean’s Africa foray through the acquisition of Skypower Services MENA, in partnership with RJ Corp—already an established and esteemed name in the region—marks a defining step in our global expansion journey. With its immense potential and untapped opportunities, Africa provides significant headroom for growth beyond our first phase of 570 MW, work on which will commence immediately after completion of all transaction formalities. With its organic growth, recent acquisitions, and global forays, Inox Clean is setting new growth benchmarks and has established a solid base to achieve its medium-term targets of 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.”

Mr. Ravi Jaipuria, Chairman, RJ Corp, said, “As we continue to expand our presence across the fast-growing African markets, sustainability remains central to our growth strategy. Our partnership with Inox Clean for this IPP venture allows us to leverage their world-class renewable energy expertise to decarbonise our operations while ensuring reliable and cost-efficient power. It supports the build-out of a sunrise sector and enables us to align our long-term growth with the global renewable energy transition. This collaboration reinforces our commitment to taking our net-zero ambitions beyond India and embedding climate action across our global footprint.”

The joint venture positions both companies to participate in Africa’s renewable energy expansion while aligning with broader decarbonisation and energy security objectives in the region.