The 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) businesses under a resolution process approved by the National Company Law Tribunal (NCLT).
The acquisition will be executed through group companies — Inox Clean Energy Ltd’s subsidiary Inox Neo Energies and Inox Green Energy Services Ltd.
Under the transaction, Inox Neo Energies will acquire Wind World India’s 600 MW IPP portfolio, comprising operational wind farms spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
Separately, Inox Green Energy Services will acquire Wind World India’s O&M arm, which manages nearly 4.5 GW of renewable energy assets. The portfolio services a marquee client base that includes the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc, among others.
Following the acquisition, Inox Clean Energy strengthens its operational wind footprint across key wind corridors. The company has outlined a medium-term target of achieving 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.
Inox Green, part of the Inoxgfl Group and a leading listed renewable O&M company, currently manages 13.3 GWp of assets. The company is positioning itself for significant expansion and aims to become India’s largest renewable O&M player.
Inoxgfl Group Executive Director Devansh Jain said the addition of high-quality operational wind assets and the expansion of the O&M portfolio will deepen the group’s presence across the wind energy value chain.
Inoxgfl Group CFO Akhil Jindal said the operational IPP assets will strengthen recurring revenues, while the larger O&M portfolio will enhance annuity-driven income and profitability. He added that the group remains focused on prudent capital allocation, operational efficiency and sustained cash flow generation as it scales up.