Inox Green shares in focus as arm completes payment for 4.5 GW wind O&M business
WWIL’s 4.5 GW portfolio services clients including the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc. The assets are spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan and Gujarat.
- Oct 7, 2026,
- Updated Oct 7, 2026 8:55 AM IST
Inox Green Energy Solutions Ltd shares are likely to be in focus after the company said it completed the payment for the transfer of the wind operations and maintenance business of Wind World India Ltd (WWIL). The payment was made through Inox Green’s subsidiary, Vibhav Energy Pvt Ltd, under the Business Transfer Agreement executed between VEPL and WWIL.
Inox Green said WWIL’s wind O&M business will be transferred to VEPL as a going concern under the terms of the agreement and the Resolution Plan approved by the National Company Law Tribunal. After completion of the transfer and implementation of the Resolution Plan, Inox Green will hold a 75 per cent stake in VEPL, enabling line-by-line consolidation of the transferred business’s financials. The total consideration for the transaction, including taxes, is Rs 550 crore.
WWIL’s 4.5 GW portfolio services clients including the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc. The assets are spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh. The portfolio generated revenue of about Rs 580 crore in FY26 and has contracted annual price escalation of about 5 per cent.
Inox Green said its O&M portfolio stands at about 13.3 GWp as of June 2026, including WWIL’s business and a separate wind O&M acquisition of about 2 GW that is currently held as an investment. The company said it expects to improve the acquired portfolio’s revenue and operating margins by using operational efficiencies, technology platforms and group synergies. It also said that, with planned annual capacity additions at Inox Clean Energy and external projects executed by parent company Inox Wind, it is on track to cross 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 O&M capabilities and strengthens our ability to deliver superior operational performance across a larger fleet of wind assets.’
He added: ‘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, said: ‘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 2 times 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.’
Inox Green is India’s only listed pure-play renewable O&M service provider. Part of the INOXGFL group and a subsidiary of Inox Wind, the company said it has a diversified portfolio and long-term O&M contracts with customers including large IPPs, PSUs and retail clients.
Inox Green Energy Solutions Ltd shares are likely to be in focus after the company said it completed the payment for the transfer of the wind operations and maintenance business of Wind World India Ltd (WWIL). The payment was made through Inox Green’s subsidiary, Vibhav Energy Pvt Ltd, under the Business Transfer Agreement executed between VEPL and WWIL.
Inox Green said WWIL’s wind O&M business will be transferred to VEPL as a going concern under the terms of the agreement and the Resolution Plan approved by the National Company Law Tribunal. After completion of the transfer and implementation of the Resolution Plan, Inox Green will hold a 75 per cent stake in VEPL, enabling line-by-line consolidation of the transferred business’s financials. The total consideration for the transaction, including taxes, is Rs 550 crore.
WWIL’s 4.5 GW portfolio services clients including the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc. The assets are spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh. The portfolio generated revenue of about Rs 580 crore in FY26 and has contracted annual price escalation of about 5 per cent.
Inox Green said its O&M portfolio stands at about 13.3 GWp as of June 2026, including WWIL’s business and a separate wind O&M acquisition of about 2 GW that is currently held as an investment. The company said it expects to improve the acquired portfolio’s revenue and operating margins by using operational efficiencies, technology platforms and group synergies. It also said that, with planned annual capacity additions at Inox Clean Energy and external projects executed by parent company Inox Wind, it is on track to cross 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 O&M capabilities and strengthens our ability to deliver superior operational performance across a larger fleet of wind assets.’
He added: ‘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, said: ‘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 2 times 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.’
Inox Green is India’s only listed pure-play renewable O&M service provider. Part of the INOXGFL group and a subsidiary of Inox Wind, the company said it has a diversified portfolio and long-term O&M contracts with customers including large IPPs, PSUs and retail clients.