Inox Green Completes ₹550 Crore Transfer of Wind World India’s 4.5 GW O&M Business

Bengaluru, October 7, 2026: Inox Green Energy Solutions Limited (“Inox Green”), India’s leading listed renewable operations and maintenance (O&M) service provider and part of the INOXGFL Group, has completed payment for the transfer of Wind World India Limited’s (WWIL) 4.5 GW wind O&M business.

The payment was made through Inox Green’s subsidiary Vibhav Energy Private Limited (VEPL), pursuant to the Business Transfer Agreement (BTA) executed between VEPL and WWIL. The total consideration, inclusive of taxes, is ₹550 crore.

Key Highlights

• Mega Deal: Transfer of WWIL’s 4.5 GW O&M portfolio to VEPL as a going concern.
• Revenue Boost: Portfolio generated ₹580 crore turnover in FY26, with ~5% annual price escalation.
• Client Base: Includes Tata Group, ReNew, Greenko Group, Apraava Energy, Hindustan Zinc.
• Geographic Reach: Assets spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, and Andhra Pradesh.
• Portfolio Expansion: Inox Green’s O&M portfolio now stands at 13.3 GWp, with plans to exceed 20 GW+ capacity.

Mr. 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 entrenched customer relationships complement Inox Green’s strengths and reinforce our long-term growth ambitions.”

Mr. Akhil Jindal, Group CFO, INOXGFL Group, added: “We are extremely pleased to announce that this milestone transaction has been executed within our disciplined valuation framework. The transaction multiple works out to approximately 2x EBITDA, based on expected earnings after full synergy realisation. Our focus will be on driving efficiencies, improving margins, and unlocking synergies to maximize value creation.”

Strategic Impact

• Strengthens multi-brand OEM O&M capabilities.
• Enhances operational efficiencies and margins through advanced technology platforms.
• Supported by INOXGFL Group ecosystem, including Inox Clean Energy’s capacity additions and Inox Wind’s projects.
• Positions Inox Green as a renewable services leader, consolidating India’s fragmented O&M sector.

About Inox Green Energy Services Limited
Inox Green is India’s only listed pure-play renewable O&M service provider, managing ~13.3 GWp of renewable assets (including WWIL’s portfolio and ~2 GW of wind O&M assets under acquisition). A subsidiary of Inox Wind, it provides long-term O&M services for renewable projects, backed by reliable cash flows and a diverse customer base including IPPs, PSUs, and retail clients.

About INOXGFL Group
INOXGFL Group is a multi-billion-dollar Indian conglomerate with a legacy of over 90 years, spanning chemicals and renewables across 75 countries. Listed entities include Gujarat Fluorochemicals Limited (GFL), Inox Wind Limited (IWL), and Inox Green Energy Services Limited (IGESL). Unlisted ventures include GFCL EV Products Limited (GFCL EV), scaling advanced battery materials, and Inox Clean Energy Limited (ICEL), expanding renewable IPP and solar manufacturing.