New Delhi, Jan. 5 -- IPO-bound Inox Clean Energy Ltd announced on Monday that its renewables independent power producer (IPP) arm Inox Neo Energies Ltd has acquired 250 megawatt-peak (MWp) of operational solar projects from SunSource Energy Private Ltd and is in the process of acquiring another 50 MWp.

Although the company did not disclose the transaction value, two people in the know of the developments said the acquisition was done for about Rs.1,000 crore. It will be funded through pre-IPO fundraises, internal accruals, and capital from the promoters, one these people said.

MWp denotes the maximum direct-current power a system can produce under ideal laboratory conditions, representing its theoretical peak capacity, unlike MW, which ...