INOXGFL Group Acquires Wind World India's IPP and O&M Arms for ₹600 MW & 4.5 GW
INOXGFL Group will acquire Wind World India's 600 MW IPP portfolio via Inox Neo Energies and its 4.5 GW O&M business via Inox Green Energy Services. This strategic move expands Inox Clean's IPP capacity and Inox Green's O&M scale, aligning with the group's renewable energy growth targets.
The acquisition involves substantial capacities (600 MW IPP and 4.5 GW O&M), significantly enhancing the group's operational scale and market presence in the renewable energy sector, which is a material development for the company and the industry.
The acquisition of significant operational IPP assets and a large O&M portfolio by INOXGFL Group's subsidiaries is a positive development, expanding their renewable energy business and strengthening their market position.
INOXGFL Group has successfully emerged as the 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 executed through two of its group companies: Inox Clean Energy Limited's subsidiary, Inox Neo Energies, will acquire Wind World's 600 MW operational IPP portfolio, while Inox Green Energy Services Limited will acquire Wind World's 4.5 GW wind O&M business.
Wind World India possesses a combined installed IPP capacity of approximately 600 MW, spread across seven states. Its O&M portfolio stands at nearly 4.5 GW, serving a client base including Tata Group, ReNew, and Greenko Group. This acquisition will expand Inox Clean's IPP portfolio, aiding its target of 10 GW of installed IPP capacity by FY28. Inox Green, already managing around 13.3 GWp of assets, will see a significant expansion of its O&M scale.
Mr. Devansh Jain, Executive Director, INOXGFL Group, stated that the acquisition strengthens their integrated renewable energy platform and deepens their presence across the wind value chain. Mr. Akhil Jindal, Group CFO, INOXGFL Group, added that the transaction is strategically timed, enhancing recurring revenue and profitability through the addition of operational IPP assets and the expanded O&M portfolio.
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Inox Wind 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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