Inox Green Energy Solutions Limited (Inox Green), a listed Indian renewable operations and maintenance (O&M) service provider and part of the INOXGFL Group, paid on October 6, 2026 for the transfer of the wind O&M business of Wind World India Limited (WWIL). The payment went through its subsidiary Vibhav Energy Private Limited (VEPL), pursuant to the Business Transfer Agreement (BTA) executed between VEPL and WWIL. The group describes the deal as one of the most significant in India's renewable O&M sector.

A takeover overseen by the company law tribunal

WWIL's O&M business will be transferred to VEPL as a going concern, under the terms of the BTA and the Resolution Plan approved by the National Company Law Tribunal (NCLT). Inox Green will own 75% of VEPL after completion of the transfer and implementation of that plan, which will allow line-by-line consolidation of the acquired business's financials, according to the company.

The total consideration, inclusive of taxes, is 550 crore Indian rupees (INR), or about $62 million. Elsewhere in wind, Northland Power has completed installation of all 76 Baltic Power turbines in Poland, while Gicon raises its Schipkau wind turbine to 365 m before November.

A 4.5 GW portfolio spread across seven states

WWIL's portfolio totals 4.5 GW. According to Inox Green, it serves clients including the Tata Group, ReNew, the Greenko Group, Apraava Energy and Hindustan Zinc. The assets are located in Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.

The portfolio generated revenue of approximately 580 crore INR (about $66 million) in FY26, the company says. It benefits from contracted annual price escalation of approximately 5%. Inox Green's O&M portfolio stands at about 13.3 GWp as of June 2026, including WWIL and a separate wind O&M acquisition of about 2 GW currently held as an investment.

Capacity and valuation targets

Inox Green says it aims to exceed 20 GW in the near future, relying on planned annual capacity additions at Inox Clean Energy and on external projects executed by its parent company, Inox Wind. These prospects remain the company's own statements.

Devansh Jain, Executive Director of INOXGFL Group, says the transaction supports the strategy of building the country's largest renewable energy services platform. He adds that integrating the WWIL business is now the priority. Akhil Jindal, the group's CFO, states that the transaction multiple works out to approximately 2x EBITDA, based on expected earnings after full realisation of synergies over the coming year.