Cyril Amarchand Mangaldas (CAM), Norton Rose Fulbright (NRF) and Khaled Al-Marri & Partners advised on Inox Clean Energy’s acquisition of SkyPower MENA.

Inox Clean Energy Limited has acquired 100% of the shareholding in SkyPower Services MENA Ltd. from SkyPower Group and CIM Infrastructure Fund LP.

The transaction forms part of Inox Clean Energy’s expansion into the African renewable energy market. The portfolio comprises solar projects in the Democratic Republic of Congo, Zambia, and Zimbabwe with an aggregate capacity of approximately 2.5 GW. Inox Clean Energy will also enter into a joint venture with RJ Corp Limited to develop the African portfolio through an equal partnership. In the first phase, the joint venture plans to commission 570 MW of renewable energy capacity, with the broader pipeline supported by sovereign-backed power purchase agreements.

Cyril Amarchand Mangaldas advised Inox Clean Energy Limited as buyer as well as SkyPower Group and CIM Infrastructure Fund as sellers in relation to the share sale transaction. The firm also advised the buyer on the joint venture with RJ Corp.

For the buyer, the CAM team was led by Partner Ajay Sawhney (Head – Northern Region), and Partner Rachika A. Sahay, with assistance from Principal Associate Siddhant Satapathy, Senior Associate Mrinal Mishra, and Associate Govind Sharma.

For the sellers, the team was led by Partner Ramanuj Kumar (Co-Head – Projects (Energy & Energy Transition), and Partner Aiswarja Mohanty, with assistance from Associate Rashika Bhardwaj.

Norton Rose Fulbright acted as international legal counsel to Zenex in connection with the transaction.

Khaled Al-Marri & Partners acted as UAE legal counsel to Inox Clean Energy Limited.

The team included Founder Kushagra Ashok Arora, Transactions & Regulatory Practice Head Himanshu Goswami, and Associate Simran Sharma.