From insolvency to integration, INOXGFL Group takes over Wind World India’s 600 MW operational portfolio and 4.5 GW O&M arm.
In a significant consolidation move in India’s renewable energy sector, the INOXGFL Group on Wednesday emerged as the successful bidder for the acquisition of the IPP and O&M businesses of Wind World India through a resolution process approved by the National Company Law Tribunal (NCLT).
The acquisition will be undertaken through group companies — Inox Clean Energy Limited, via its subsidiary Inox Neo Energies, and Inox Green Energy Services Limited.
Under the transaction, Inox Clean Energy will acquire Wind World India’s operational wind IPP portfolio of around 600 MW. The assets are spread across key wind-rich states including Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
Separately, Inox Green Energy Services will take over Wind World India’s nearly 4.5 GW wind O&M portfolio, which services a marquee client base comprising large corporates such as the Tata Group, ReNew, Greenko Group, Apraava Energy, Torrent Power and Hindustan Zinc.
Wind World India was originally a joint venture between Germany-based Enercon and the Mehra family. Following disputes between the partners, the company faced financial stress and was admitted into insolvency proceedings in 2018 under the Insolvency and Bankruptcy Code (IBC).
The latest acquisition is expected to significantly strengthen Inox Clean’s operational portfolio as it works towards its medium-term target of achieving 10 GW of installed IPP capacity by FY28. For Inox Green, the deal expands its managed assets beyond 13 GW, reinforcing its position as one of India’s leading renewable O&M service providers.
Industry observers say the transaction underscores the ongoing consolidation in India’s renewable energy sector, where financially stronger players are acquiring stressed but operational assets to scale up rapidly amid the country’s accelerating clean energy transition.
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