Noida: Inox Green Energy Services Limited has completed payment for the transfer of Wind World India Limited’s 4.5 GW wind operations and maintenance business, marking a major expansion of its renewable energy services portfolio.
Rs 550 Crore Transaction
The payment was completed on October 6 through Inox Green’s subsidiary Vibhav Energy Private Limited under a Business Transfer Agreement with Wind World India.
The total consideration for the transaction, including taxes, is Rs 550 crore. Wind World India’s O&M business will be transferred to Vibhav Energy as a going concern under the resolution plan approved by the National Company Law Tribunal.
After completion of the transfer and implementation of the resolution plan, Inox Green will own a 75 per cent stake in Vibhav Energy. This will allow the company to consolidate the acquired business’ financials.
Portfolio Generated Rs 580 Crore Revenue
Wind World India’s 4.5 GW portfolio generated revenue of about Rs 580 crore in FY26 and benefits from contracted annual price escalation of around 5 per cent.
Its client base includes Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc. The wind assets are spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
Inox Green Eyes 20 GW Plus
Inox Green’s O&M portfolio stood at around 13.3 GWp as of June 2026, including the Wind World portfolio and a separate 2 GW wind O&M acquisition currently held as an investment.
The company expects operational efficiencies, technology platforms and group synergies to help improve revenue and margins from the acquired portfolio. It is targeting more than 20 GW of capacity in the near future.
Group CFO Akhil Jindal said the transaction multiple works out to around two times EBITDA based on expected earnings after full synergies are realised over the next year. The company will focus on integration, improving margins and unlocking operational efficiencies.
Disclaimer: This article is based on information disclosed by Inox Green Energy Services Limited in its regulatory filing with stock exchanges.
