InoxGFL Group firms win bid for Wind World IPP and O&M businesses

Two companies under the INOXGFL Group have been declared successful bidders to acquire the Independent Power Producer (IPP) and Operations & Maintenance (O&M) businesses of Wind World India Limited. The transactions were executed through a consortium led by Inox Neo Energies and were finalised after approval from the Committee of Creditors (CoC) under the Corporate Insolvency Resolution Process (CIRP) overseen by the National Company Law Tribunal (NCLT).

Under the approved resolution plan, Inox Clean Energy Limited’s subsidiary, Inox Neo Energies (INEL), will take over Wind World India’s operational IPP portfolio. The company’s O&M business will be acquired and implemented through Inox Green Energy Services Limited (IGESL), a listed entity within the Group. The resolution plan was submitted by a consortium comprising INEL as the Lead Member and Authum Investment & Infrastructure Limited as the Unrelated Member. The Letter of Intent (LoI) was issued and accepted on February 19, 2026, with implementation subject to final approval from the Hon’ble NCLT, Ahmedabad Bench.

Wind World (India) Limited manages operations across manufacturing, power generation, and maintenance services. The company holds an installed IPP capacity of around 600 MW, with operational wind farms across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, and Andhra Pradesh.

The company’s O&M division manages approximately 4.5 GW of wind assets. This portfolio serves several corporate clients, including the Tata Group, ReNew, Greenko Group, Apraava Energy, and Hindustan Zinc.

For Inox Clean Energy, the acquisition adds operating wind assets to its renewable platform and supports its medium-term target of achieving 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.

IGESL currently manages about 13.3 GWp of renewable assets. The addition of Wind World’s 4.5 GW O&M portfolio is expected to expand its service scale and reinforce its annuity-based revenue model. The company aims to become the largest renewable O&M provider in India.

Commenting on the development, Mr. Devansh Jain, Executive Director of INOXGFL Group, stated that the acquisition deepens the Group’s presence across the wind value chain by adding operational assets and expanding O&M capabilities. He noted that the integration of Wind World’s asset base aligns with the Group’s strategy of building a technology-driven clean energy platform.

Mr. Akhil Jindal, Group CFO, added that the transaction falls within the Group’s valuation parameters. He highlighted that the addition of operational IPP assets is expected to enhance recurring revenues, while the expanded O&M portfolio contributes to sustained cash flow generation and profitability.

The resolution plan will now be submitted to the Hon’ble NCLT, Ahmedabad Bench for final approval. The companies will provide further disclosures in line with the Securities and Exchange Board of India (SEBI) Listing Regulations as the process advances.

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