Inox Green Energy Services Ltd has signed a term sheet to buy majority stake in an independent firm that provides operation and maintenance in the wind energy sector, the company said today in an exchange filing.
The target company has a fleet capacity of over 230 MW, primarily in south India. The deal is expected to be closed by the end of next month.
Inox Green did not disclose the size of the stake or any financial details of the deal.
Inox Green, a leading wind power operations and maintenance services provider, said the deal would help it increase its fleet size, which is currently about 3 GW.
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