INOXGFL Group secures landmark acquisition of Wind World India’s energy assets
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Noida-headquartered INOXGFL Group has emerged as the successful bidder for the acquisition of Wind World India’s Independent Power Producer (IPP) and Operations & Maintenance (O&M) arms. The acquisition can be seen as a part of the group's expansion strategy in the global energy transition space.
The transaction is structured to boost two core pillars of the INOXGFL Group:
Inox Clean Energy Limited: Through its subsidiary, Inox Neo Energies, the group will acquire Wind World’s 600 MW operational wind IPP portfolio. These assets span seven wind-rich states, including Karnataka, Maharashtra, Tamil Nadu, and Gujarat.
Inox Green Energy Services Limited: This entity will take over the 4.5 GW wind O&M business, which currently manages a marquee client base featuring industry giants such as the Tata Group, ReNew, and Greenko Group.
Toward a greener future
This acquisition is a major step in INOXGFL’s journey toward its "FY28 Vision," which aims for 10 GW of installed renewable IPP capacity and 11 GW of integrated solar manufacturing. By absorbing Wind World's O&M portfolio, Inox Green has cemented its position as India’s largest listed renewable O&M service provider, expanding its footprint beyond its existing 13.3 GW of assets under management.
Group CFO Devansh Jain said that the acquisition of these high-quality operational assets would immediately enhance the group’s recurring revenue and cash flow profile. "This deal is not just about scale; it’s about securing high-value annuity income and deepening our partnerships with India's leading industrial houses," he stated.
Resolution of a long-standing distress
The announcement marks the culmination of a long-running insolvency process for Wind World India, which originally began in 2018 following a dispute between its founders and the German firm Enercon. Market analysts estimate the total bid value to be in the range of ₹1,800–1,900 crore.
The shares of Inox Green Energy ended 3.37% higher at ₹180.90 apiece on the national stock exchange today. The company's stock has risen over 38% in the past year, outperforming the Nifty 50 index that has risen close to 11% during the same period.