Omkara ARC acquires Rs 3,763 crore debt of Wind World India

Omkara Asset Reconstruction Company (Omkara ARC) has acquired the entire Rs 3,763 crore debt of Wind World India Limited (WWIL). The acquisition from the National Asset Reconstruction Company Limited (NARCL positions Omkara ARC as the lead decision-maker in the company’s ongoing insolvency.

The strategic purchase, finalized under the Swiss Challenge method, involved an investment of Rs 1,225 crore. This secures Omkara ARC an 80% voting share in the Committee of Creditors (CoC), giving it overwhelming control to steer the future of the distressed wind energy firm.

This development comes after the National Company Law Tribunal (NCLT) cleared the path for a fresh resolution by allowing the withdrawal of a previous plan. The acquisition marks a pivotal step towards reviving WWIL, a company critical to India’s renewable energy infrastructure.

“This acquisition is more than a strategic investment, it’s a reaffirmation of our commitment to India’s economic revival through resolution of complex, high-impact assets,” said Manish Lalwani, Co-Founder and Managing Director of Areion Group, Omkara ARC’s parent company. “Wind World India represents a critical piece of the country’s renewable energy infrastructure, and we are proud to take the lead in unlocking its full potential.”

WWIL, formerly known as Enercon India Limited, is a key asset in the clean energy sector. It operates 650 MW of renewable energy projects and manages the Operations & Maintenance (O&M) for a massive 4,500 MW of installed capacity across seven states.

The debt was originally transferred to the government-backed NARCL by a consortium of lenders approximately 18 months ago. Omkara ARC’s intervention is expected to accelerate the resolution process, with the CoC now set to invite fresh expressions of interest from potential bidders.

This acquisition significantly strengthens Omkara ARC’s portfolio and underscores its growing influence in the distressed assets space, particularly its focus on high-value, infrastructure-linked investments in the renewable energy domain.

Also See: NARCL auctions Rs 3,763-crore debt of Wind World India