Inox, Authum set to buy Wind World assets for Rs 1,900 crore
Mumbai: A consortium of Inox Neo Energies and Authum Investment & Infrastructure is set to buy the assets of bankrupt Wind World for an estimated Rs 1,800-1,900 crore, after the committee of creditors approved its resolution plan . Under the plan, Inox Neo will acquire Wind World’s 600 MW wind power portfolio, while its listed sister company, Inox Green Energy, will take over the entity’s 4.5 GW operations and maintenance (O&M) business. Inox Neo and Inox Green-part of the InoxGFL Group-are the lead members of the consortium. Authum, owned by Sanjay Dangi, is said to be primarily interested in Wind World’s real estate assets, according to people familiar with the matter. Dangi had earlier acquired the NBFC business of Reliance, formerly owned by Anil Ambani. Wind World operates wind farms across seven states in India, and its O&M arm services clients including Tata, ReNew, Greenko and Apraava Energy. Commenting on the acquisition, InoxGFL executive director Devansh Jain said the deal would expand the group’s O&M portfolio and strengthen its presence across the wind value chain. Group CFO Akhil Jindal added that the transaction “falls within our valuation framework” and will enhance “our recurring revenue profile.“ The acquisition aligns with InoxGFL’s twin strategy of achieving a 10 GW wind power target and becoming India’s largest renewable O&M player. Founded in 1994, Wind World was a joint venture between German wind turbine maker Enercon (56%) and its Indian partner, the Mehra family (44%). The partners later split, after which the company entered bankruptcy proceedings.
