INOXGFL Group has successfully emerged as the winning bidder for the acquisition of Wind World India’s Independent Power Producer (IPP) and Operations & Maintenance (O&M) businesses via the NCLT resolution process. Inox Clean Energy will acquire the 600 MW operational IPP portfolio, while Inox Green Energy Services will take over the substantial 4.5 GW O&M business. This strategic move deepens the Group’s integration across the wind value chain and significantly expands its renewable asset base for future growth targets through FY28.
INOXGFL Group Secures Major Wind Asset Acquisition
INOXGFL Group announced on February 19, 2026, that it has emerged as the successful bidder for the acquisition of the IPP and O&M businesses of Wind World India through the National Company Law Tribunal (NCLT)-approved resolution process. The acquisition is being executed through two key subsidiaries: Inox Clean Energy Limited and Inox Green Energy Services Limited.
Transaction Breakdown
The transaction involves two distinct parts:
- IPP Portfolio Acquisition: Inox Clean Energy, through its subsidiary Inox Neo Energies, will acquire Wind World India’s Independent Power Producer (IPP) portfolio, totaling approximately 600 MW of operational wind capacity spread across key states like Karnataka, Maharashtra, and Tamil Nadu.
- O&M Business Acquisition: Inox Green Energy Services will acquire Wind World India’s Operations & Maintenance (O&M) arm. This adds nearly 4.5 GW of servicing capacity to Inox Green’s existing portfolio, servicing major clients including the Tata Group and ReNew.
Strategic Impact on Growth Trajectory
This acquisition is described as a decisive step in strengthening the Group’s integrated renewable energy platform.
Inox Clean Energy Expansion:
With the addition of these high-quality operational assets, Inox Clean is setting new benchmarks toward its medium-term targets of achieving 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.
Inox Green Energy Services Growth:
Inox Green, already managing approximately ~13.3 GWp of assets, is on course to become the largest renewable O&M company in India following this scale expansion.
Leadership Commentary
Mr. Devansh Jain, Executive Director, INOXGFL Group, stated that the deal deepens the Group’s presence across the wind value chain by adding operational assets and significantly expanding O&M scale. Mr. Akhil Jindal, Group CFO, added that the transaction is strategically timed, enhancing Inox Clean’s recurring revenue profile through operational IPP assets, and strengthening Inox Green’s annuity-driven revenues.
About the Companies
Inox Clean Energy Limited:
This is the integrated renewable energy platform of the Group, focusing on IPP under Inox Neo and solar manufacturing under Inox Solar Limited. The company targets significant expansion in RE IPP and integrated solar manufacturing capacity by FY28 across India and globally.
Inox Green Energy Services Limited:
This company is highlighted as India’s only listed pure-play renewable O&M services company, managing about ~13.3 GW of renewable assets under long-term contracts.
Source: BSE
