Inox Clean Energy Plans $750M Acquisition of Boviet Solar in the US — Is This a Game Changer for India's Renewable Sector?
What's Happening
Inox Clean Energy is eyeing a $750 million acquisition of Boviet Solar, a Vietnam-based solar manufacturer with a significant US manufacturing presence. The timing is critical — Chinese solar companies are being pushed out of the US market due to:
Tariff pressure — steep US import duties on Chinese solar panels
FEOC Rules (Foreign Entity of Concern) — regulations barring Chinese-linked companies from US clean energy supply chains, especially those tied to Inflation Reduction Act (IRA) incentives
This is creating a massive vacuum in the US solar supply chain — and Inox is positioning itself to fill it.