Omkara Asset Reconstruction Company (Omkara ARC), which is a subsidiary of Areion Group, has been able to acquire 3,763 crore of debt of Wind World India Limited (WWIL) of the National Asset Reconstruction Company Limited (NARCL), according to a release issued by the company on Friday.
This is a strategic takeover, which has been undertaken under the Swiss Challenge approach, and Omkara ARC has become the major stakeholder in the continuing Corporate Insolvency Resolution Process (CIRP) at WWIL, having an 80 percent voting share in the Committee of Creditors (CoC) after investing 1225 crore. The deal represents an important milestone for Omkara ARC, which has been keen on high-impact, infrastructure-based investments, especially in the renewable energy sector.
WWIL, who was previously referred to as Enercon India Ltd., is one of the key players in the wind energy sector in India, with 650 MW of renewable energy projects under operation and Operations and Maintenance (O&M) responsibility for 4,500 MW of installed capacity in Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Madhya Pradesh.
NCLT Approval
A consortium of leading lenders had earlier on, around 18 months ago, transferred the 3763 crore debt to NARCL. Since the withdrawal of the current resolution plan has been sanctioned by the National Company Law Tribunal (NCLT), the way is now open to solicit new expressions of interest by prospective applicants of the resolution.
Commenting on the acquisition, Manish Lalwani, Co-Founder and Managing Director of Areion Group, said, “This acquisition is more than a strategic investment; it’s a reaffirmation of our commitment to India’s economic revival through the resolution of complex, high-impact assets. Wind World India represents a vital 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 handling unique situations with precision and purpose, and this deal highlights our role in driving sustainable growth, restoring enterprise value, and contributing meaningfully to the national economy.”
With this acquisition, Omkara ARC continues to strengthen its presence in the distressed asset space while reinforcing its commitment to supporting high-potential opportunities in India’s clean energy sector.
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