Noida, October 7, 2026: Inox Green Energy Solutions Limited has completed the ₹550 crore payment for the transfer of Wind World India Limited’s 4.5 GW wind operations and maintenance (O&M) business, the company said on October 6. The transaction was executed through Inox Green’s subsidiary, Vibhav Energy Private Limited, under a Business Transfer Agreement with Wind World India.
The deal, described as one of the most significant in India’s renewable O&M sector, will see the O&M business transferred to Vibhav Energy as a going concern, in line with the agreement and a Resolution Plan approved by the National Company Law Tribunal. Inox Green will hold a 75% stake in Vibhav Energy following completion of the transfer and implementation of the plan, allowing full consolidation of the acquired business’s financials.
Wind World India O&M business details
Wind World India’s O&M arm reported a turnover of approximately ₹580 crore in FY26. Its 4.5 GW portfolio serves clients including Tata Group, ReNew, Greenko Group, Apraava Energy, and Hindustan Zinc, with assets located in Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, and Andhra Pradesh. The portfolio benefits from contracted annual price escalation of about 5%.
Inox Green’s expanded portfolio
Following the acquisition, Inox Green’s O&M portfolio stands at around 13.3 GWp as of June 2026, which includes the Wind World India assets and a separate 2 GW wind O&M acquisition currently held as an investment. The company said it plans to leverage operational efficiencies, technology platforms, and group synergies to increase revenues and margins from the acquired portfolio.
Future growth and leadership comments
Supported by the INOXGFL Group, Inox Green expects to exceed 20 GW capacity in the near future, aided by annual capacity additions at Inox Clean Energy and projects by Inox Wind. Executive Director Devansh Jain said the transaction is a key step in building India’s largest renewable energy services platform, adding, “Wind World’s quality asset base and deeply entrenched customer relationships complement Inox Green’s strengths and reinforce our long-term growth ambitions.”
Group CFO Akhil Jindal stated, “The transaction multiple works out to approximately 2x 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 maximize value creation.”
Company background
Inox Green Energy Services Limited is a listed renewable O&M service provider with about 13.3 GWp of assets under management as of June 2026. The company is part of the INOXGFL Group, a conglomerate with interests in chemicals and renewables, and is a subsidiary of Inox Wind.
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