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Inox Renewables exits wind power business

Lowest bidder in wind auction to focus on manufacturing

Inox Renewables exits wind power business
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Shreya Jai New Delhi
Inox Renewables Limited (IRL) has decided to sell its operating wind farms to Chennai-based Leap Green Energy for an undisclosed amount to focus on its “core businesses”. 

IRL is a subsidiary of Gujarat Flourochemicals Limited (GFL), which has been into the wind sector, primarily turbine manufacturing, since 2010.

Exiting the wind farming business will help the parent company pare its debt, the company said.

“Inox Group has decided to exit the wind farming business and focus on its core businesses, including that of wind turbine manufacturing. This transaction will decrease the leverage of GFL at a consolidated level, by reducing

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First Published: Mar 08 2017 | 1:28 AM IST

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