Inox Green Completes Rs 550-Cr Payment for Acquisition of Wind World India’s 4.5 GW Wind O&M Biz

New Delhi: Inox Green Energy Solutions on Wednesday said it has completed the payment for transfer of wind O&M business of Wind World India Ltd (WWIL).

The total consideration for the transaction, including taxes, is Rs 550 crore.

The payment has been made through Inox Green’s subsidiary Vibhav Energy Pvt Ltd (VEPL) pursuant to the Business Transfer Agreement (BTA) executed between VEPL and WWIL, a company statement said.

According to the statement, Inox Green Energy Solutions Ltd (Inox Green), India’s leading listed renewable operations and maintenance (O&M) service provider and part of the INOXGFL Group, on Tuesday completed the payment for the transfer of the wind O&M business of Wind World India Ltd (WWIL).

This landmark transaction represents one of the most significant deals in India’s renewable O&M sector. The O&M business of WWIL will be transferred to VEPL as a going concern, as per the terms of the BTA and the resolution plan approved by the National Company Law Tribunal (NCLT).

Inox Green will own 75 per cent stake in VEPL post completion of the transfer and the implementation of the resolution plan, enabling line-by-line consolidation of the transferred business’ financials.

WWIL’s high-quality 4.5 GW portfolio services a marquee client base, including the Tata Group, ReNew, Greenko Group, Apraava Energy, and Hindustan Zinc.

The assets span across key wind-rich states, including Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, and Andhra Pradesh.

Devansh Jain, Executive Director, INOXGFL Group, said, “This transaction will be a defining step in our strategy to build India’s largest and most technologically advanced renewable energy services platform.”

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