Archive · 7 Oct 2026
Inox Green Completes Payment for Wind World’s 4.5 GW O&M Business
Inox Green has paid to take over a business that looks after wind farms owned by Wind World India.
The wind farms have a total capacity of 4.5 GW.
The deal cost Rs 550 crore, including taxes, and payment was completed on October 6.
The business earned about Rs 580 crore in FY26.
Its wind assets are in seven Indian states, and it serves several large customers.
Inox Green says the deal brings its O&M portfolio to about 13.3 GWp as of June 2026.
The company plans to use technology and operational efficiencies to improve the business.
It says it hopes to grow beyond 20 GW in the near future.
Inox Green completed payment for Wind World India’s 4.5 GW wind operations and maintenance business through subsidiary Vibhav Energy.
The deal consideration was Rs 550 crore, including taxes; the payment was completed on October 6.
The portfolio generated about Rs 580 crore in FY26 revenue and has contracted annual price escalation of around 5 per cent.
Its customers include Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc; assets span seven Indian states.
Inox Green says its O&M portfolio is about 13.3 GWp as of June 2026 and it aims to exceed 20 GW in the near future.
- Who
- Inox Green, through its subsidiary Vibhav Energy Private Limited, and Wind World India.
- What
- Payment and transfer of Wind World India’s 4.5 GW wind operations and maintenance business for Rs 550 crore, including taxes.
- When
- Payment was completed on October 6; the articles do not specify the year.
- Where
- The portfolio’s assets are in Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
- Why
- Inox Green says the acquisition supports expansion of its renewable energy services platform and offers opportunities to improve operations and margins.
Company rationale
Valuation and integration considerations
Strategic value
Company rationale
Inox Green says the portfolio, customer relationships and combined capabilities will expand its renewable energy services platform.
Valuation and integration considerations
The articles report no opposing party’s view on the strategic rationale.
Deal economics
Company rationale
The Group CFO said the approximately 2-times-EBITDA multiple fits the company’s disciplined valuation framework, using expected earnings after synergies.
Valuation and integration considerations
The reported multiple depends on the expected realization of synergies over the next year; the articles provide no independent assessment of that forecast.
- Transaction consideration
- Rs 550 crore, including taxes
- Payment date
- October 6; year not specified in the articles
- Acquired portfolio
- 4.5 GW of wind O&M business
- FY26 revenue
- About Rs 580 crore
- Contracted annual price escalation
- Around 5 per cent
- Portfolio size
- About 13.3 GWp as of June 2026, including the acquired business and a separate 2 GW acquisition held as an investment
- Vibhav Energy ownership
- Inox Green will own a 75 per cent stake after completion of the transfer and implementation of the resolution plan
- Transaction multiple
- Approximately 2 times EBITDA, based on expected earnings after full realization of synergies over the next year
