Inox Green Energy Solutions has completed the payment for the transfer of Wind World India Limited’s (WWIL) 4.5 GW 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 Inox Green’s subsidiary Vibhav Energy Private Limited (VEPL), under the Business Transfer Agreement signed with WWIL. The transaction is being implemented as a going concern in accordance with the NCLT-approved Resolution Plan.
Following completion of the transfer and implementation of the Resolution Plan, Inox Green will hold a 75% stake in VEPL, enabling consolidation of the acquired business’s financials.
WWIL’s 4.5 GW O&M portfolio serves major customers including the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc. The assets are spread across key wind markets including Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
The acquired portfolio generated approximately ₹580 crore in revenue during FY26 and has contracted annual price escalation of around 5%.
With the transaction, Inox Green’s O&M portfolio stands at approximately 13.3 GWp as of June 2026. The company aims to leverage operational efficiencies, technology platforms and synergies across the INOXGFL Group to improve revenues and operating margins.
Inox Green is also targeting more than 20 GW of managed renewable energy capacity in the near future, supported by planned capacity additions at Inox Clean Energy and external projects executed by Inox Wind.
Devansh Jain, Executive Director, INOXGFL Group, said the transaction would strengthen the company’s multi-brand OEM capabilities and support its ambition to build a large, technologically advanced renewable energy services platform.
According to Akhil Jindal, Group CFO, INOXGFL Group, the transaction multiple works out to approximately 2x EBITDA based on expected earnings after the full realisation of synergies over the next year.
