Inox Green Energy Services Plans to Divest Stake in 50 MW Wind Farm
Inox Green Energy Services (IGESL) has announced plans to divest its entire 100 percent stake in Nani Virani Wind Energy Private Ltd, a 50 MW operational wind farm located in Gujarat
October 12, 2023. By News Bureau
The transaction is contingent on customary regulatory and banking approvals, as well as approvals from the boards and shareholders. This divestment is expected to have a positive impact on both IGESL and Inox Wind.
IGESL aims to achieve a debt-free status, while Inox Wind's balance sheet will experience significant deleveraging, thereby enhancing its financial stability.
Kailash Tarachandani, the CEO of Inox Wind, emphasised their commitment to improving Inox Wind's performance and profitability.
Inox Wind Limited is a leading provider of wind energy solutions in India, serving a wide range of clients, including independent power producers, utilities, public sector units, and corporate investors.
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