Inox Green Energy Services (IGESL) has entered into a Share Subscription cum Shareholders' Agreement with Resowi Energy (Target Company) on September 22, 2023 to subscribe to the fresh Equity Shares of the Target Company on a private placement basis which will result in the Company acquiring majority stake of 51% in the post share capital of the Target Company.
The Target Company is engaged in the business of operations and maintenance of Wind turbine generators (WTGs) and has capabilities to service 2 MW and higher rated WTGs of several OEMs operating in India & Sri Lanka. The acquisition will enhance IGESL's expertise to offer its services to a wider customer base.
Inox Green Energy Services is one of the major wind power operations and maintenance (O&M) service providers within India. The Company is engaged in the business of providing long-term O&M services for wind projects.
