Inox Group sells operating wind farms to Leap Green Energy

Inox Group firms have entered into agreements to sell their operating wind farms to Leap Green Energy and its subsidiaries, on a slump sale basis, for an undisclosed amount.

“Inox Renewables (IRL), a wholly-owned subsidiary of Gujarat Fluorochemicals and Inox Renewables (Jaisalmer) (IRJL), a wholly-owned subsidiary of IRL, both a part of Inox Group, entered into definitive agreements for sale of substantially all of their operating wind farms to Leap Green Energy (LGE) and its subsidiaries, on a slump sale basis, for an undisclosed price,” a company statement said.

The transaction is subject to fulfilment of certain conditions precedent, and is expected to complete over the next few months, the statement said.

IRL (with its wholly-owned subsidiary IRJL) is one of the leading renewable energy companies in India and together they own operating wind farms in Rajasthan, Maharashtra, Madhya Pradesh and Tamil Nadu, that have a total capacity of 260MW, it said.

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