inoxgfl group Companies Emerge as Successful Bidders For wind world India’s IPP and O&M Arms
~ under the deal, inox clean energy to acquire Wind World’s 600 MW operational IPP portfolio; &
~ Inox green services to acquire Wind World’s 4.5 GW wind O&M business
Mumbai, February 19, 2026: INOXGFL Group, today emerged as a successful bidder for the acquisition of the IPP and O&M businesses of Wind World India through the National Company Law Tribunal (NCLT)-approved resolution process. The acquisition will be through its companies — Inox Clean Energy limited (“Inox Clean”) and Inox Green Energy Services Limited (“Inox Green”).
Under the transaction, Inox Clean — the Group’s renewable energy platform engaged in developing, owning and operating utility-scale wind, solar and hybrid assets —will acquire Wind World India’s Independent Power Producer (IPP) portfolio. Inox Green — one of India’s leading renewable O&M service provider with a large and diversified portfolio across multiple states — will acquire Wind World India’s Operations & Maintenance (O&M) arm.
Wind World India has manufacturing, IPP and O&M operations. Wind World India, directly and through its subsidiaries, has a combined installed IPP capacity of approximately 600 MW, with wind farms spread across seven key wind-rich states: Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
Additionally, Wind World India’s O&M portfolio stands at nearly 4.5 GW, servicing a marquee client base that includes leading corporates such as the Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc, amongst others.
With this acquisition, Inox Clean expands its IPP portfolio with operational wind assets across key wind corridors. Inox Clean is setting new growth benchmarks and has established a solid base to achieve its medium-term targets of 10 GW of installed IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28.
Meanwhile, Inox Green, a part of the INOXGFL Group, a leading listed renewables O&M company, has ~13.3 GWp assets under its management. Inox Green is on a massive growth journey and on course to be the largest renewable O&M company in India.
Commenting on the acquisition, Mr. Devansh Jain, Executive Director, INOXGFL Group, said, “This acquisition marks another decisive step in expanding our O&M portfolio under Inox Green and strengthening our integrated renewable energy platform under Inox Clean. By adding high-quality operational wind assets to our IPP portfolio and significantly expanding our O&M scale, we are deepening our presence across the wind value chain. Wind World’s strong asset base and long-standing customer relationships align seamlessly with our vision of building a scaled, technology-driven and performance-focused clean energy platform that will play a meaningful role in India’s energy transition.”
Mr. Akhil Jindal, Group CFO, INOXGFL Group, added, “The transaction is strategically timed and falls within our valuation framework. The addition of operational IPP assets enhances our recurring revenue profile, while the expansion of the O&M portfolio further strengthens Inox Green’s annuity-driven revenues and profitability. We remain focused on prudent capital allocation, operational efficiency and sustained cash flow generation as we scale.”
About Inox Clean Energy Limited
Inox Clean, the integrated renewable energy platform of the INOXGFL Group, operates across the renewable IPP (Independent Power Producer) business under its subsidiary Inox Neo and the solar manufacturing business under its subsidiary Inox Solar Limited. Rapidly expanding across the verticals through greenfield and inorganic routes, Inox Clean targets 10 GW of installed RE IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28, with assets spread across India and multiple key global geographies. Combining the core strength of its robust integrated business model along with the synergies and expertise within the INOXGFL Group, Inox Clean is setting new growth benchmarks in the renewable energy space as it scales up its capacities and offerings.
About Inox Green Energy Services Limited:
Inox Green Energy Services Limited is one of the major renewable power operations and maintenance (“O&M”) service providers in India with ~ 13.3 GWp of renewable assets under management, including investments. The company is engaged in the business of providing long-term O&M services for renewable energy projects. Part of the INOXGFL Group and a subsidiary of Inox Wind with whom it enjoys a synergistic relationship, Inox Green is India’s only listed pure-play renewable O&M services company. It has a strong and diverse portfolio base and an established track record of over a decade. It has reliable cash flows supported by long-term O&M contracts. Its customers include some of the largest IPPs, PSUs along with various retail customers.
About INOXGFL Group
INOXGFL Group, a multi-billion-dollar Indian conglomerate, is a leader in the global energy transition space. With a legacy of over 90 years, the Group’s interests span across chemicals and renewables, with presence in over 75 countries across five continents. INOXGFL Group companies are forerunners across diversified business segments, with three listed entities — Gujarat Fluorochemicals Limited (GFL), a global leader in the specialty fluorine chemicals space; Inox Wind Limited (IWL), India’s leading comprehensive wind solutions provider; and Inox Green Energy Services Limited (IGESL), India’s largest listed renewables O&M services provider. On the unlisted front, GFL’s subsidiary — GFCL EV Products Limited (GFCL EV) — is scaling up to become the largest non-Chinese integrated advanced battery materials supplier globally. Further, through Inox Clean Energy Limited (ICEL), the Group is rapidly expanding globally across renewable energy IPP and solar manufacturing verticals. The Group's performance and leadership are reflected in its diverse portfolio of products and services, where several of its companies are setting new growth benchmarks, as well as impactful corporate social responsibility initiatives. With an aim to drive progress and contribute to a greener future, the INOXGFL Group continues to contribute to India’s growth story.
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