INOXGFL Acquires Wind World Portfolio, Expands Renewable Ambitions

INOXGFL Group has won a bid to acquire Wind World India's wind portfolio through insolvency proceedings. This acquisition involves 600 MW of IPP capacity and a 4.5 GW O&M portfolio, bolstering INOXGFL’s renewable platform through its entities Inox Clean Energy Ltd and Inox Green Energy Services Ltd.

INOXGFL Group has successfully acquired Wind World India's wind energy portfolio through a competitive insolvency resolution process at the National Company Law Tribunal. With a bid nearing Rs 2,800 crore, the acquisition was finalized despite INOXGFL's reluctance to disclose the transaction value.

Strategically crucial, this acquisition helps INOXGFL bolster its renewable energy platform, taking over 600 megawatts of independent power producer capacity and a significant 4.5-gigawatt operations and maintenance portfolio. The company will integrate the portfolio via Inox Clean Energy Ltd and Inox Green Energy Services Ltd.

The company, known for crafting solar modules and advocating renewable projects, aims to achieve expansive growth by reaching 10 gigawatts of installed IPP capacity by FY28. Executive Director Devansh Jain emphasized that the acquisition aligns with INOXGFL’s vision of a technology-driven clean energy platform pivotal to India's energy transition.