Inox Green Completes ₹550 Crore Payment for Wind World India’s 4.5 GW O&M Business | Machine Maker – Latest Manufacturing News | Indian Manufacturing News – Latest Manufacturing News | Indian Manufacturing News

Inox Green Energy Solutions Limited has completed payment for the transfer of Wind World India Limited’s wind operations and maintenance (O&M) business for a total consideration of ₹550 crore, including taxes. The payment was completed on October 6, 2026, through its subsidiary Vibhav Energy Private Limited (VEPL), under a Business Transfer Agreement between VEPL and Wind World India.

The transfer will be carried out as a going concern in accordance with the agreement and the resolution plan approved by the National Company Law Tribunal. Following completion of the transfer and implementation of the resolution plan, Inox Green will hold a 75% stake in VEPL, allowing it to consolidate the transferred business’s financials.

Wind World India’s O&M portfolio covers approximately 4.5 GW of wind power capacity and includes customers such as the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc. The assets are spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.

The business generated approximately ₹580 crore in revenue in FY2025-26 and has contracted annual price escalations of around 5%. Inox Green expects to use operational efficiencies, technology platforms and group-wide synergies to improve the acquired portfolio’s revenue and operating margins.

As of June 2026, Inox Green’s O&M portfolio stood at approximately 13.3 GW, including Wind World India’s business and a separate investment involving around 2 GW of wind O&M assets. The company expects further growth through capacity additions by Inox Clean Energy and wind projects executed by parent company Inox Wind. It aims to expand its portfolio beyond 20 GW in the near future.

Devansh Jain, Executive Director of the INOXGFL Group, said the acquisition would strengthen the company’s renewable energy services business and expand its capabilities across multiple wind turbine brands. He added that the immediate focus was on integrating the acquired operations and improving service delivery across the combined portfolio.

Akhil Jindal, Group CFO of INOXGFL Group, said the transaction had been completed within the group’s valuation framework. Based on expected earnings after the full realisation of synergies over the next year, the transaction multiple works out to approximately two times EBITDA, he said.

Inox Green provides long-term O&M services for renewable energy projects and is part of the INOXGFL Group. Its portfolio includes assets owned by independent power producers, public sector undertakings and other customers. The company benefits from its relationship with Inox Wind and the wider group’s renewable energy and manufacturing businesses.