INOXGFL Group has emerged as the successful bidder to acquire the Independent Power Producer (IPP) and Operations & Maintenance (O&M) businesses of Wind World India via the NCLT-approved resolution process. Inox Clean Energy, through its subsidiary, will acquire the 600 MW operational IPP portfolio. Concurrently, Inox Green Energy Services will acquire the extensive 4.5 GW wind O&M business, deepening the group’s presence across the renewable value chain ahead of its FY28 capacity targets.
Acquisition of Wind World India’s Key Business Units
INOXGFL Group announced on February 19, 2026, that it has successfully secured the bid to acquire the Intellectual Property (IPP) and Operations & Maintenance (O&M) arms of Wind World India through the mandated resolution process.
The transaction is structured via two separate subsidiary acquisitions:
- Inox Clean Energy Limited’s subsidiary, Inox Neo Energies (“Inox Neo”), will acquire Wind World India’s 600 MW operational Independent Power Producer (IPP) portfolio.
- Inox Green Energy Services Limited (“Inox Green”), one of India’s leading O&M providers, will acquire Wind World India’s Operations & Maintenance (O&M) business, covering nearly 4.5 GW of assets.
Expansion of Renewable Portfolio
Wind World India currently holds an installed IPP capacity of approximately 600 MW, with wind farms spread across seven key Indian states, including Karnataka, Maharashtra, and Rajasthan.
The O&M portfolio being acquired services a high-profile client base, featuring major corporates such as the Tata Group, ReNew, and Greenko Group.
This strategic move significantly enhances Inox Clean’s IPP portfolio, supporting its medium-term goal of reaching 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.
Inox Green, which already manages approximately ~13.3 GWp of renewable assets, is positioned to become the largest renewable O&M company in India following this expansion.
Management Commentary on Strategic Impact
Mr. Devansh Jain, Executive Director, INOXGFL Group, stated that this acquisition marks a decisive step in strengthening the group’s integrated renewable energy platform by adding high-quality operational wind assets and significantly expanding the O&M scale.
Mr. Akhil Jindal, Group CFO, added that the transaction is strategically timed, enhancing the recurring revenue profile via the operational IPP assets and further strengthening Inox Green’s annuity-driven revenues and profitability.
About the Entities Involved
Inox Clean Energy Limited
This entity operates the integrated renewable energy platform focusing on the IPP business (via Inox Neo) and the solar manufacturing business. The company is focused on scaling up to 10 GW of installed RE IPP capacity by FY28.
Inox Green Energy Services Limited
As a listed pure-play renewable O&M services company, Inox Green manages approximately ~13.3 GW of renewable assets. The company is noted for its strong portfolio base and reliable cash flows supported by long-term O&M contracts.
Source: BSE
