Inox Green Energy Services said it will acquire a majority stake in an independent wind service provider that operates majorly in South India with a 230+MW fleet, according to the PTI report.
The transaction is subject to certain regulatory and other customary closing conditions and is expected to conclude by the end of January 2023, a company statement said.
“Inox Green…has signed a term sheet for acquisition of majority stake in a renowned independent O&M (operations and maintenance) wind service provider with a 230+MW fleet that operates majorly in South India,” it said.
The target company specializes in O&M of multibrand wind turbine OEMs (original equipment manufacturers) and provides comprehensive O&M services as well as specialized corrective maintenance services.
Inox Green is actively pursuing inorganic growth opportunities along with the rapid growth that it envisages from the organic route as well.
