Inox Green Energy to acquire Wind World India's 4.5 GW O&M business
INOXGFL Group will acquire Wind World India's IPP and O&M businesses. Inox Clean's subsidiary will acquire 600 MW operational IPP assets, and Inox Green will acquire Wind World's 4.5 GW wind O&M business. This expansion aligns with Inox Clean's target of 10 GW IPP capacity by FY28.
The acquisition of a significant IPP portfolio and O&M business is a major strategic move that will substantially impact the company's revenue, profitability, and market share in the renewable energy sector.
The acquisition is positive as it expands the company's operational capacity and strengthens its market position in the renewable energy sector.
INOXGFL Group has emerged as the successful bidder for the acquisition of the Independent Power Producer (IPP) and Operations & Maintenance (O&M) businesses of Wind World India through the National Company Law Tribunal (NCLT) approved resolution process. The acquisition will be undertaken by its companies: Inox Clean Energy Limited's subsidiary, Inox Neo Energies, will acquire Wind World India's IPP portfolio, while Inox Green Energy Services Limited will acquire Wind World India's O&M arm.
Wind World India possesses an installed IPP capacity of approximately 600 MW across seven states and an O&M portfolio of nearly 4.5 GW. This acquisition will expand Inox Clean's IPP portfolio with operational wind assets and significantly grow Inox Green's O&M scale. Inox Clean aims to achieve 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28. Inox Green, with this acquisition, will further strengthen its position as a leading renewable O&M service provider in India, managing approximately 13.3 GWp of assets.
Mr. Devansh Jain, Executive Director, INOXGFL Group, stated that this acquisition is a decisive step in expanding their O&M portfolio and strengthening their integrated renewable energy platform. Mr. Akhil Jindal, Group CFO, INOXGFL Group, added that the transaction is strategically timed and enhances their recurring revenue profile and profitability.
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Inox Green Energy Services Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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