Corporate News     09-Oct-23
Inox Green Energy Services to divest 100% stake in Nani Virani Wind Energy SPV
Inox Wind's subsidiary, Inox Green Energy Services (IGESL) has signed a term sheet for divestment of 100% stake in Nani Virani Wind Energy SPV. The SPV, which is a 50 MW operational wind farm located in Gujarat, was commissioned in May'23.

The divestment is part of the strategic decision taken by the company to become net debt-free, further enabling IGESL to become an asset-light annuity O&M business. Consequently, this will also aid in paring debt on IGESL's parent company Inox Wind's consolidated balance sheet.

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