Inox Green Energy Services files an update that brings a large renewable O&M deal into focus. The filing is dated October 7, 2026 and it says a payment linked to a 4.5 GW wind portfolio is now complete.
The transaction is presented as a marquee deal in the renewable O&M sector. The details involve a subsidiary, a Business Transfer Agreement, an NCLT-approved Resolution Plan and a clear consideration. The structure of ownership after completion is also disclosed.
Payment Completes On October 6 Through Subsidiary
The company completes the payment on October 6, 2026 for the transfer of the wind O&M business of Wind World India Limited. The payment is made through its subsidiary Vibhav Energy Private Limited pursuant to the Business Transfer Agreement executed between Vibhav Energy and Wind World India.
This update is shared under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company encloses a press release titled Inox Green Completes payment for the transfer of Wind World India’s 4.5 GW Wind O&M Business as per the Business Transfer Agreement.
The O&M business of Wind World India will be transferred to Vibhav Energy as a going concern, as per the terms of the Business Transfer Agreement and the Resolution Plan approved by the National Company Law Tribunal. The going concern approach means the operational contracts, service setup and portfolio continuity move together.
Consideration And Shareholding Structure
The total consideration for the transaction, inclusive of taxes, is ₹550 crore. The amount is paid through Vibhav Energy and it covers the transfer as defined in the Business Transfer Agreement.
Inox Green will own 75% stake in Vibhav Energy post completion of the transfer and the implementation of the Resolution Plan. This 75% holding enables line-by-line consolidation of the transferred business financials into Inox Green.
The company frames the deal within a disciplined valuation framework. Management notes that the transaction multiple works out to approx 2x EBITDA, based on expected earnings after full realisation of synergies over the next year. The focus after integration remains on operational efficiencies, margin improvement and synergy unlocking.
What 4.5 GW Portfolio Brings
The portfolio under transfer is 4.5 GW. It is described as high-quality and it services a marquee client base. Names disclosed in the filing include Tata Group, ReNew, Greenko Group, Apraava Energy and Hindustan Zinc.
Geographically, the assets span across key wind-rich states. The filing lists Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh. This spread gives presence across western, southern and central wind belts.
Commercially, Wind World India’s O&M arm achieved a turnover of approx ₹580 crore in FY26. The portfolio benefits from contracted annual price escalation of approx 5%. The combination of scale, contracted escalation and long-term O&M nature supports cash flow visibility.
Current Base And Growth Roadmap
Inox Green’s O&M portfolio currently stands at ~13.3 GWp as of June 2026, inclusive of Wind World India portfolio and a separate ~2 GW wind O&M acquisition currently held as an investment. The June 2026 reference point provides the latest base before this payment completion.
By leveraging operational efficiencies, advanced technology platforms and group synergies, Inox Green positions itself to boost revenues and operating margins of the acquired portfolio. The strategy is to apply standardisation, technology-led monitoring and centralised service practices across a larger fleet.
Supported by the INOXGFL Group ecosystem, including planned large annual capacity additions at Inox Clean Energy and external projects executed by parent company Inox Wind, Inox Green is on track to exceed 20 GW+ capacity in the near future. The ecosystem link helps on both organic additions and third-party multi-brand OEM O&M coverage.
Management Commentary On Strategy
Commenting on the acquisition, Mr. Devansh Jain, Executive Director, INOXGFL Group, says this transaction will be a defining step in strategy to build India’s largest and most technologically advanced renewable energy services platform. He notes that Wind World’s quality asset base and deeply entrenched customer relationships complement Inox Green’s strengths and reinforce long-term growth ambitions. He adds that the transaction substantially enhances multi-brand OEM O&M capabilities and strengthens ability to deliver superior operational performance across a larger fleet.
Mr. Akhil Jindal, Group CFO, INOXGFL Group, says the milestone transaction is executed within disciplined valuation framework. He highlights synergistic opportunities and says as the business is integrated, focus will be on driving operational efficiencies, improving margins and unlocking synergies to maximize value creation.
The company also notes that seamless integration of Wind World India’s O&M business remains the immediate priority. The integration plan leverages combined capabilities to drive greater value for customers, accelerate growth and consolidate leadership in the renewable energy services sector.
Why This Filing Matters
The filing connects three layers at once. First, payment completion on October 6, 2026. Second, transfer mechanism through Vibhav Energy under Business Transfer Agreement and NCLT Resolution Plan. Third, financial framework of ₹550 crore consideration, approx ₹580 crore FY26 turnover, approx 5% annual escalation and approx 2x EBITDA expectation after synergies.
For tracking, the company retains its identity as India’s leading listed renewable O&M service provider and part of INOXGFL Group. Its customers include some of the largest IPPs, PSUs along with various retail customers, with reliable cash flows supported by long-term O&M contracts. The filing does not add new stock codes or disclaimer and keeps the update factual.