Vibrant Energy

What Vibrant Energy does

Vibrant Energy is an India-based renewable energy Independent Power Producer (IPP) that develops and operates utility-scale solar, wind, and solar-wind hybrid projects to supply clean electricity to commercial and industrial (C&I) customers. The company was founded in 2015 and is headquartered in Hyderabad, with operational and development assets across Karnataka, Madhya Pradesh, Maharashtra, Telangana, and Andhra Pradesh. Its portfolio comprises 1,337 MW of total capacity, including approximately 800 MW operational and a 3 GW development pipeline. The technology centers on solar-wind hybrid configurations that combine solar PV and wind generation to optimize land utilization and stabilize output across varying weather conditions.

Vibrant Energy generates revenue by selling electricity to corporate customers under long-term Power Purchase Agreements (PPAs) typically spanning 20-24 years. Anchor customers include Amazon India, which signed a PPA in December 2022 to source renewable energy from the 300 MW Karnataka–Madhya Pradesh solar-wind hybrid project, and Ultratech. Revenue is contracted and recurring based on installed capacity and generation output, supported by Rs 22 billion in debt financing secured in April 2023. The company was originally developed by Macquarie Asset Management Green Investments, which grew the platform from 65 MW to 1,337 MW before divesting in 2025.

In December 2025, Inox Clean Energy (INOXGFL Group) signed definitive agreements to acquire Vibrant Energy from Macquarie Corporate Holdings for approximately Rs 5,000 crore (enterprise value of ~$600 million, equity value of ~$200 million), with the acquisition completing in April 2026. Post-acquisition, NaBFID provided a Rs 3,400 crore 20-year debt facility at 8.0-8.5% to refinance legacy high-cost debt. The company now operates as a subsidiary of Inox Clean Energy, led by CEO Vinay Pabba, with a capital structure secured against long-term PPAs covering 800 MW of operating capacity.

Name

Vibrant Energy

Website

https://vibrantenergyholdings.com

Company type

Private

Founded year

2015

Operating status

Acquired

Headcount range

101–250 employees

Short description

Vibrant Energy is an India-based renewable energy IPP developing utility-scale solar, wind, and hybrid projects to supply long-term contracted clean electricity to commercial and industrial customers including Amazon India and Ultratech across multiple Indian states.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD)

Keywords

• Renewable energy generation
• Solar wind hybrid projects
• Corporate power purchase agreements
• Independent power producer
• Commercial industrial energy supply

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Others

Revenue model

1. Renewable Energy Generation & Sales: Vibrant Energy generates electricity from solar-wind hybrid projects and sells it to corporate customers under long-term Power Purchase Agreements (PPAs), typically 20-24 year terms. Revenue is recurring based on contracted capacity and generation output.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Vibrant Energy is an Independent Power Producer (IPP) that develops and operates utility-scale solar, wind, and solar-wind hybrid renewable energy projects across multiple Indian states. The company generates electricity from these projects and supplies it to commercial and industrial (C&I) customers under long-term Power Purchase Agreements (PPAs), typically 20–24 years in duration, with a current operational portfolio of approximately 800 MW and a development pipeline of 3 GW.

Product overview

Vibrant Energy is a renewable energy independent power producer (IPP) operating a diversified portfolio of 1,337 MW across solar, wind, and solar-wind hybrid projects. The company develops and operates renewable energy projects in multiple Indian states, supplying clean electricity to commercial and industrial customers through long-term power purchase agreements. Vibrant Energy's portfolio includes approximately 800 MW of operational capacity with a development pipeline of 3 GW. The company was acquired by Inox Clean Energy in 2025 for approximately ₹5,000 crore.

Differentiator

Problem solved

Functional benefit

Products and services

• Renewable Energy Portfolio

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Amazon IndiacoreStrategic or Co-development Partner · 1 December 2022Amazon India signed a power purchase agreement with Vibrant Energy in December 2022 to source renewable energy from the 300 MW solar-wind hybrid project in Karnataka and Madhya Pradesh. Vibrant Energy supplies over a million megawatt-hours annually under this long-term PPA.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• ReNew Energy Global: One of India's largest renewable energy IPPs with utility-scale solar and wind capacity serving C&I and utility offtakers under long-term PPAs; directly comparable to Vibrant Energy's hybrid IPP model and C&I customer focus.
• Greenko Group: Indian hybrid renewables IPP combining solar, wind, and pumped storage to deliver firm clean power to C&I customers; directly comparable hybrid dispatchable model and contracted offtake structure to Vibrant.
• Azure Power Global: India-focused utility-scale solar IPP with operational solar parks serving corporate and government offtakers; closely comparable project development, PPA structuring, and C&I customer model.
• Hero Future Energies: Private Indian renewable IPP developing solar, wind, and hybrid projects under long-term PPAs with corporate and industrial customers; comparable size, technology mix, and C&I customer focus.
• ACME Solar Holdings: Indian solar and hybrid IPP with utility-scale projects supplying power under long-term PPAs to C&I customers; closely comparable scale, project economics, and customer mix to Vibrant Energy.

Broad incumbents

• Adani Green Energy: India's largest listed renewable energy player with a multi-GW portfolio across solar, wind, and hybrid projects; a broader incumbent operating at much greater scale than Vibrant but in the same utility-scale IPP category.
• Tata Power Renewables: Renewable energy arm of Tata Power operating utility-scale solar, wind, and hybrid projects across India; broader incumbent in the same C&I PPA and utility-scale development space.
• JSW Energy: Indian power group with a growing renewable energy portfolio including solar, wind, and hybrid projects; broader incumbent competing in the same utility-scale IPP and C&I PPA market.

Emerging players

• Fourth Partner Energy: India-focused C&I renewable energy provider specializing in distributed and open-access solar PPAs for corporate customers; adjacent peer in the same C&I offtake segment with a smaller-scale and more distributed focus than Vibrant.
• CleanMax Enviro Energy Solutions: Indian C&I-focused renewable energy IPP providing solar and hybrid solutions to corporate customers under long-term PPAs; emerging player in the same corporate offtake niche as Vibrant with smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/VEHrenewables
• Facebookfacebook.com/VEHrenewables
• LinkedInlinkedin.com/company/vibrantenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vibrant Energy