- Secured 80% voting share in Committee of Creditors by investing ₹1,225 crore
- NCLT clears path for fresh bids after withdrawal of previous resolution plan
- Strengthens portfolio with major renewable infrastructure asset
Omkara Asset Reconstruction Company (Omkara ARC), sister company of Areion Group, has successfully acquired ₹3,763 crore debt of Wind World India Limited (WWIL) from the National Asset Reconstruction Company Limited (NARCL). This strategic acquisition, finalized under the Swiss Challenge method, positions Omkara ARC as the lead decision-maker in WWIL’s ongoing Corporate Insolvency Resolution Process (CIRP), holding an 80% voting share in the Committee of Creditors (CoC) after an investment of ₹1,225 crore.
The transaction is a significant milestone for Omkara ARC, underscoring its commitment to high-impact, infrastructure-linked investments, particularly within the renewable energy domain. WWIL, formerly Enercon India Limited, is a key player in the country's wind energy sector, operating 650 MW of renewable energy projects and managing the Operations & Maintenance (O&M) for 4,500 MW of installed capacity across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan, Tamil Nadu, and Madhya Pradesh.
The ₹3,763 crore debt was originally assigned to NARCL by a consortium of leading lenders nearly 18 months ago. With the National Company Law Tribunal (NCLT) permitting the withdrawal of the existing resolution plan, the path has now been cleared for inviting fresh expressions of interest from potential resolution applicants.
Commenting on the acquisition, Manish Lalwani, Co-Founder and Managing Director, Areion Group, said, “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. 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. At Omkara ARC, we specialize in managing special situations with precision and purpose, and this deal underscores our role in driving sustainable growth, restoring enterprise value, and contributing meaningfully to the national economy”.
Omkara ARC’s acquisition reinforces its growing influence in the distressed asset space and its commitment to backing high-potential opportunities in the clean energy domain.