Inox Wind’s Resco Global lands Rs 350cr in game-changing investment—Discover the impact

Resco Global Wind Services Pvt. Ltd., a leading player in India’s wind energy sector and a subsidiary of Inox Wind Limited, has announced a significant equity raise. The company’s board has approved raising Rs 350 crore from marquee investors for a single-digit stake in the company. This strategic move is designed to boost Resco Global’s capabilities and leverage the expanding opportunities within the Indian wind sector.

As one of the top two wind EPC (Engineering, Procurement, and Construction) service providers in India, Resco Global brings over 14 years of experience in managing end-to-end services for wind projects. The company’s comprehensive offerings span from project conceptualization to commissioning and include the construction of transmission infrastructure for power evacuation. Its extensive service network is particularly strong in Western India, where it is currently developing large-scale infrastructure for future renewable projects.

The recent capital infusion will enable Resco Global to scale up its operations rapidly. The company is also branching out into new areas, including crane services and the hybridization of its power evacuation assets. This hybridization aligns with the latest renewable energy policies across various states, which permit the integration of existing and new transmission assets to boost revenues.

Mr. Devansh Jain, Executive Director of INOXGFL Group, commented, “With Inox Wind successfully turning around, we have been consistently looking to add value across all our businesses, seizing the exceptional opportunities in India’s burgeoning wind sector. This timely fundraise for Resco Global will accelerate its growth and enhance our overall business portfolio. We appreciate the confidence and support of our investors in our growth trajectory.”

Kailash Tarachandani, Group CEO of Inox Wind, highlighted Resco Global’s competitive edge, stating, “Resco Global has a strong competitive advantage with its large-scale plug-and-play infrastructure for developers, significantly reducing project execution timelines. With India’s ambitious renewable capacity targets, we foresee substantial demand for wind EPC projects. This funding comes at a crucial time as Resco Global is poised to ramp up its operations and secure new orders.”

The infusion of capital comes at a strategic moment for Resco Global, positioning the company to capitalize on the anticipated growth in the wind energy sector in India. The significant order book and healthy order inflow pipeline further ensure strong revenue visibility for the company moving forward.