Inox Green Energy Services Limited will acquire a majority stake in an independent operation and maintenance (O&M) wind service provider that operates majorly in South India with a 230+MW fleet.
This acquisition is a part of the strategic decision taken by the company to grow its fleet through the inorganic route as well. With this acquisition, Inox Green enters multi brand original equipment manufacturer wind turbine O&M business and will be well positioned to serve customers by leveraging the synergies and efficiencies across the combined teams, supply chain capabilities and technical expertise. The technical and financial strengths of Inox Green will aid the target company to grow at a faster pace.The transaction is subject to certain regulatory and other customary closing conditions and is expected to conclude by the end of January 2023.