Inox Wind Divests Stake in EPC Arm Inox Renewable Solutions Worth ₹175 Crore

Inox Wind Limited (IWL) has sold a stake worth ₹175 crore in its EPC subsidiary, Inox Renewable Solutions Ltd. (IRSL), valuing the business at around ₹7,400 crore. The stake sale follows the recently approved demerger of IRSL’s substation business from Inox Green Energy Services, which received a ‘no objection’ from stock exchanges.

Deal Highlights & Strategic Context ✦

♦ Stake sale value: ~₹175 crore

♦ Implied valuation of IRSL: ~₹7,400 crore

♦ Structure: Post-merger of IRSL after demerger scheme approval

The move reflects Inox Wind’s efforts to unlock value in its EPC arm, which develops power evacuation and transmission infrastructure for renewable projects on a turnkey basis.

About Inox Wind Limited (IWL) 🌬

IWL, part of the US$12 billion INOXGFL Group, is an integrated wind energy solutions provider serving Independent Power Producers (IPPs), utilities, PSUs, and corporate clients.

Key highlights:

♦ Manufacturing capacity: ~2.5 GW per annum

♦ Facilities: Four plants in Gujarat, Himachal Pradesh, and Madhya Pradesh

♦ Products: Blades, tubular towers, hubs, and nacelles

♦ Technology: State-of-the-art 3 MW series Wind Turbine Generators (WTGs)

♦ Certifications: ISO 9001:2008, ISO 14001:2004, OHSAS 18001, ISO 3834

About Inox Renewable Solutions Ltd. (IRSL) ⚡

Formerly known as Resco Global Wind Services, IRSL offers end-to-end EPC services for wind and hybrid renewable projects. It develops multi-gigawatt-scale infrastructure to evacuate power and has a strong operational presence in western India.

Recent initiatives include:

♦ Launching crane services and transformer manufacturing

♦ Hybridizing power evacuation assets to leverage evolving renewable energy policies

♦ Diversifying revenue streams by capitalizing on state incentives for transmission hybridization

Backed by Inox Wind’s diversified order book of ~3.1 GW, IRSL has strong revenue visibility with a healthy project pipeline.

Industry Implications & Future Outlook 🔍

The stake sale is seen as a strategic step to monetize non-core assets while strengthening Inox Wind’s balance sheet. With renewable energy demand rising and state policies enabling hybrid transmission, IRSL is well-positioned to benefit from upcoming projects and expanded service offerings.