Inox Wind’s material subsidiary -- Inox Wind Infrastructure Services (IWISL) has entered into a Share Purchase Agreement (SPA) to sell the entire issued and paid up equity share capital of six wholly owned subsidiaries -- Marut-Shakti Energy India, Sarayu Wind Power (Kondapuram), Sarayu Wind Power (Tallimadugula), Vinirrmaa Energy Generation, Satviki Energy and RBRK Investments to its fellow subsidiary, Resco Global Wind Services (wholly owned subsidiary of the Company) for cash consideration at par.
Consequent upon the said sale, the aforementioned companies shall cease to be the subsidiaries of IWISL but shall continue to be step down subsidiaries of the Company. As a part of the strategic business restructuring, IWISL is selling the entire issued and paid up equity share capital of its six wholly owned subsidiaries.
Inox Wind offers its clients total wind power solutions including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as post-commissioning support.
