Inox Green Energy Services has acquired a majority stake in an unrevealed independent wind power operations and maintenance (O&M) company with over 230 MW of operating capacity, primarily in South India. This acquisition is expected to help the company in expanding its O&M fleet organically. The financial terms of the acquisition are not disclosed by the company.
The acquired company specialises in the O&M of multi-brand wind filings to turbine original equipment manufacturers, as well as corrective maintenance services. The transaction is subject to regulatory approval as well as other customary closing conditions and is expected to close by the end of January 2023.
Recently in October 2022, Inox Wind announced that Inox Green Energy Services Limited sold its full equity stake in three special purpose vehicles to Adani Green Energy.
Also, in September 2022, Inox Wind’s 3.3 MW wind project was successfully commissioned in Ranparda village, Rajkot district. The developed turbine has a 100 metre tubular tower and 146 metre rotor blades.