Inox Green Energy Services Ltd has received the certified order of the National Company Law Tribunal (NCLT) approving the resolution plan for Wind World (India) Ltd and will acquire the company’s wind turbine operations and maintenance business for a lump-sum consideration of up to ₹550 crore.
The NCLT Ahmedabad Bench approved the resolution plan on July 27, 2026, for the acquisition of Wind World by a consortium comprising Inox Neo Energies Ltd and Authum Investment & Infrastructure Ltd. Inox Green received the certified copy of the approval order on August 3, according to its regulatory filing.
Under the resolution plan, Inox Green, either directly or through a subsidiary, has been identified as the implementation entity for acquiring Wind World’s operations and maintenance (O&M) business. The business will be acquired as a going concern through a slump sale or another structure permitted under the resolution plan and approved by the Implementation and Monitoring Committee.
The O&M business comprises a wind turbine portfolio of approximately 4.5 GW spread across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Madhya Pradesh, Rajasthan and Tamil Nadu. The acquisition is expected to add this portfolio to Inox Green’s existing O&M operations.
The company said the acquisition is aligned with its core business of operating and maintaining wind turbine generators and wind energy assets. The additional portfolio includes marquee customers such as Tata Group, ReNew, Greenko, Apraava Energy and Hindustan Zinc, among others.
₹550 crore cash consideration
The transaction will be funded through cash consideration, with the acquisition cost capped at a lump-sum amount of up to ₹550 crore, subject to agreed adjustments under the definitive agreements to be executed between Inox Green or its subsidiary and Wind World.
The transfer of the O&M business is expected to be completed within 60 days from August 3, 2026, the date on which Inox Green received the certified NCLT approval order. The completion remains subject to the terms of the resolution plan and approval of the Implementation and Monitoring Committee, as well as any other required regulatory approvals.
Wind World O&M business generated ₹580 crore in FY26
The O&M business being acquired generated ₹579.77 crore in revenue during FY2025-26, according to provisional and unaudited figures disclosed by Inox Green. This compares with ₹597.09 crore in FY2024-25 and ₹499.59 crore in FY2023-24.
| Financial year | O&M turnover |
| FY2025-26 | ₹579.77 crore |
| FY2024-25 | ₹597.09 crore |
| FY2023-24 | ₹499.59 crore |
The acquisition does not involve the purchase of shares in a separate entity. Instead, Inox Green is acquiring the O&M business undertaking of Wind World. Consequently, no percentage shareholding or control in the target business is applicable to the transaction.
Resolution plan approved with 96.47% creditor vote
Wind World is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code. The resolution plan submitted by the consortium of Inox Neo Energies and Authum Investment & Infrastructure was approved by the committee of creditors with a 96.47% voting share.
Separately, under the resolution plan, Inox Neo Energies will acquire a controlling stake in Wind World, which will house the company’s independent power producer and power-sale business. That portfolio comprises approximately 600 MW of assets spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh and Andhra Pradesh.
For Inox Green, the acquisition significantly expands its wind O&M portfolio and strengthens its presence across India’s wind energy market. The addition of approximately 4.5 GW of assets, along with the existing customer relationships and established operating portfolio, is expected to deepen the company’s position in the wind turbine maintenance and services segment.