Inox Green Completes INR 550 Crore WWIL Wind O&M Deal

Inox Green Energy Solutions, India's leading listed renewable Operations and Maintenance (O&M) service provider and part of the INOXGFL Group, has on October 6, 2026 completed the payment for the transfer of the wind O&M business of Wind World India (WWIL). The payment has been made through Inox Green’s subsidiary Vibhav Energy (VEPL) pursuant to the Business Transfer Agreement (BTA) executed between VEPL and WWIL. This landmark transaction represents one of the most significant deals in India’s renewable O&M sector. 

The O&M business of WWIL will be transferred to VEPL as a going concern, as per the terms of the BTA and the Resolution Plan approved by the National Company Law Tribunal (NCLT). Inox Green will own 75 percent stake in VEPL post completion of the transfer and the implementation of the Resolution Plan, enabling line-by-line consolidation of the transferred business’ financials. The total consideration for the transaction, inclusive of taxes, is INR 550 crore. 

WWIL’s high-quality 4.5 GW portfolio services a marquee client base, including the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc. The assets span across key wind-rich states, including Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh. The portfolio generated revenue of approximately INR 580 crore in FY26 and benefits from contracted annual price escalation of approximately 5 percent. 

Inox Green’s O&M portfolio currently stands at approx 13.3 GWp (as of June 2026, inclusive of WWIL and a separate ~2 GW wind O&M acquisition currently held as an investment). By leveraging operational efficiencies, advanced technology platforms and group synergies, Inox Green is uniquely positioned to substantially boost the acquired portfolio's revenues and operating margins. 

Supported by the INOXGFL Group ecosystem—including planned large annual capacity additions at Inox Clean Energy and external projects executed by parent company Inox Wind—Inox Green is firmly on track to exceed 20 GW+ capacity in the near future. 

Commenting on the acquisition, Devansh Jain, Executive Director, INOXGFL Group, said, “This transaction will be a defining step in our strategy to build India’s largest and most technologically advanced renewable energy services platform. Wind World’s quality asset base and deeply entrenched customer relationships complement Inox Green’s strengths and reinforce our long-term growth ambitions. The transaction substantially enhances our multi-brand OEM capabilities and strengthens our ability to deliver superior operational performance across a larger fleet of wind assets. We are now focused on a seamless integration of Wind World India’s O&M business, leveraging our combined capabilities to drive greater value for customers, accelerate growth and further consolidate our leadership in the renewable energy services sector.”

Akhil Jindal, Group CFO, INOXGFL Group, added, “We are extremely pleased to announce that this milestone transaction has been executed within our disciplined valuation framework. The business has several synergistic opportunities and the transaction multiple works out to approximately 2x EBITDA, based on expected earnings after the full realisation of synergies over the next year. As we integrate the acquired business, our focus will be on driving operational efficiencies, improving margins and unlocking synergies to maximise value creation.”