1 hr ago
Inox Green Completes Payment for 4.5 GW Wind O&M Business
Inox Green has completed payment for a business that looks after wind farms with a total capacity of 4.5 GW.
Looking after these farms includes operating and maintaining them.
The business works with customers such as Tata Group and ReNew.
Its wind assets are spread across seven Indian states.
It earned about Rs 580 crore in the financial year 2026.
Inox Green says the purchase brings its O&M portfolio to about 13.3 GWp as of June 2026.
The company hopes to make the business work better by sharing technology and improving operations.
It says it expects to grow its capacity beyond 20 GW in the near future.
Inox Green said its arm completed payment for Wind World India’s 4.5 GW wind operations and maintenance business.
The portfolio serves clients including Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc.
The assets are spread across seven Indian states, and the business generated about Rs 580 crore in FY26 revenue.
Inox Green said its O&M portfolio totals about 13.3 GWp as of June 2026, including the acquired business and a separate 2 GW acquisition held as an investment.
The company plans to use efficiencies, technology and group synergies to improve the acquired business and says it is on track to exceed 20 GW in capacity in the near future.
- Who
- Inox Green and its arm; the acquired business is Wind World India’s wind O&M portfolio.
- What
- Completion of payment for a 4.5 GW wind operations and maintenance business.
- Where
- The assets are located in Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
- When
- The announcement gives no specific transaction date; Inox Green states its portfolio size as of June 2026.
- Why
- Inox Green aims to expand its renewable energy services platform and improve operations, margins and value through efficiencies and synergies.
Key facts
- Acquired portfolio
- 4.5 GW of wind O&M assets
- FY26 revenue
- About Rs 580 crore
- Annual price escalation
- About 5 per cent, contracted
- Inox Green O&M portfolio
- About 13.3 GWp as of June 2026
- Separate wind O&M acquisition
- About 2 GW, currently held as an investment
- Expected transaction multiple
- Approximately 2 times EBITDA, based on expected earnings after full realization of synergies over the next year
- Clients named
- Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc
Quotes
Devansh Jain
Executive Director of the INOXGFL Group
“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 deeply entrenched customer relationships complement Inox Green’s strengths and reinforce our long-term growth ambitions. The transaction substantially enhances our multi-brand OEM O&M capabilities and strengthens our ability to deliver superior operational performance across a larger fleet of wind assets.”
businesstoday.in
“We are extremely pleased to announce that this milestone transaction has been executed within our disciplined valuation framework. The business has several synergistic opportunities and the transaction multiple works out to approximately 2 times Ebitda, based on expected earnings after the full realisation of synergies over the next year.”
businesstoday.in
Sources
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