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India based Inox Clean Energy has acquired the assets of Boviet Solar Technology LLC through Inox Solar Americas LLC in a deal valued at about $750 million. The acquisition adds 3 GW of operational solar module manufacturing capacity in the United States using TOPCon technology. The transaction also includes a binding agreement for a planned 3 GW solar cell manufacturing facility. The cell production facility is expected to become operational by December 2026.Products manufactured at these facilities are expected to qualify for Section 45X incentives under the Inflation Reduction Act. Inox Clean said it has completed nine acquisitions in the last nine months across power generation and solar manufacturing businesses. The company is targeting 11 GW of solar manufacturing and 10 GW of operational IPP capacity by FY2028.
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