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INOXGFL Group Wins Bid to Acquire Wind World India’s 600 MW IPP Assets and 4.5 GW O&M Portfolio

The INOXGFL Group has secured winning bidder status for the acquisition of Wind World India’s Independent Power Producer (IPP) portfolio and its large-scale Operations & Maintenance (O&M) business. The transaction is being executed under the National Company Law Tribunal (NCLT)-approved resolution framework.

The acquisition will be carried out through two group entities. The IPP assets will be housed under Inox Clean Energy’s subsidiary, Inox Neo Energies, while the O&M business will be integrated into Inox Green Energy Services, the group’s renewable O&M arm.

Expanding Presence Across the Wind Value Chain

Wind World India operates across manufacturing, power generation and maintenance services. Its IPP portfolio comprises nearly 600 MW of installed wind capacity distributed across seven wind-rich states — Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.

In addition to generation assets, the company manages an O&M portfolio of approximately 4.5 GW. This business services several prominent clients, including the Tata Group, ReNew, Greenko Group, Apraava Energy, and Hindustan Zinc, among others.

Commenting on the development, Devansh Jain, Executive Director of INOXGFL Group, said the acquisition represents a significant step toward strengthening both the group’s operational asset base and its renewable services platform. He noted that integrating quality operational wind projects into the IPP portfolio, while substantially expanding the O&M footprint, reinforces the group’s ambition to build a technology-led and performance-driven clean energy platform aligned with India’s energy transition goals.

Strengthening Recurring and Annuity Revenues

Akhil Jindal, Group CFO, stated that the transaction aligns with the company’s valuation discipline and long-term capital strategy. According to him, the addition of operational IPP assets will enhance predictable revenue streams, while the enlarged O&M portfolio is expected to boost annuity-based earnings and overall profitability for Inox Green.

The group emphasised its continued focus on disciplined capital deployment, operational optimisation and sustainable cash flow generation as it scales operations.

Growth Ambitions Ahead

With this acquisition, Inox Clean broadens its IPP portfolio through operational wind projects located in key wind corridors across India. The company has outlined ambitious expansion targets, aiming to reach 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.

Meanwhile, Inox Green currently manages approximately 13.3 GWp of renewable assets under its O&M portfolio, further consolidating its position in India’s renewable services segment.

The deal strengthens INOXGFL Group’s integrated renewable energy strategy, deepening its footprint across generation ownership and lifecycle asset management.