Boviet Solar, a solar panel brand currently owned by Chinese materials firm Ningbo Boway Alloy Material, could soon be under Indian ownership. Ningbo Boway announced plans to sell 100% of Boviet Solar to INOX Solar Americas, the U.S.-based division of India's Inox Clean Energy.
The board of directors of Ningbo Boway unanimously approved the proposal in April 2025, signalling a clear shift in the Chinese company's strategy away from the solar panel manufacturing segment.
Inox Clean Energy is one of India's prominent renewable energy developers, active in both wind and solar projects. Through its American subsidiary INOX Solar Americas, the company is now positioning itself for significant expansion into the North American solar supply chain.
If the acquisition is completed, it would mark a notable example of Indian companies stepping into a solar market traditionally dominated by Chinese manufacturers. Financial terms and a closing timeline have not yet been disclosed publicly.
Source: Indian clean energy company Inox in talks to acquire Boviet Solar - Solar Power World· Based on source, with AI-assisted rewriting.
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