Proposed deal marks Indian renewable firm’s strategic expansion into American solar manufacturing

Inox Clean Energy Eyes $750 Million Acquisition of Boviet Solar to Enter US Market.

India’s Inox Clean Energy is in talks to acquire US-based Boviet Solar in a deal valuing the company at around $750 million (about ₹7,000 crore), people familiar with the matter said. The proposed acquisition would give the Noida-headquartered firm a direct entry into the American solar market. Headquartered in San Jose, Boviet Solar ranks among the top 10 solar equipment manufacturers in the US. Its Chinese parent, Ningbo Boway Alloy Material, recently announced a strategic review of its US operations amid trade restrictions and evolving subsidy rules. Inox Clean Energy sees the move as an opportunity to expand across residential, commercial and industrial solar segments in the US while strengthening its global footprint. The company already generates renewable power and manufactures solar cells and modules through Inox Neo Energies and InoxSolar Ltd. Queries to both firms remained unanswered at press time.