Mumbai: 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.
