JPMorgan-backed Leap Green to buy Inox’s wind power plants

Coimbatore-based Leap Green Energy has entered into a definitive agreement to acquire the entire wind power operational capacity of Inox Renewables. The deal is subject to certain conditions and is likely to be completed over the next few months. Under the deal, Inox Renewables and its unit Inox Renewables (Jaisalmer) Limited will sell wind power plants in Rajasthan, Maharashtra, Madhya Pradesh and Tamil Nadu with a total generation capacity of about 260 MW. The group decided to exit the wind farming business to focus on its core business, including that of wind turbine manufacturing. The acquisition will help Leap Green increase its operating capacity to 762 MW, making it amongst the largest independent power producers of wind energy in the country.