Resco Global Wind Services, the engineering, procurement, and construction (EPC) arm of Inox Wind, has raised ₹3.5 billion (~$41.68 million) through an equity investment from prominent investors.

In exchange for the funds, Resco issued securities to the participating investors, which included Valrado Venture Partners Fund II, Anchorage Capital Scheme I, JM Financial Products, Founders Collective Fund, One Up Financial Consultants, Authum Investments & Infrastructure, and Capri Global Holdings.

Resco provides comprehensive EPC services for wind energy projects, covering everything from initial conceptualization to project commissioning. The company also constructs transmission infrastructure for power evacuation, offering developers turnkey, plug-and-play solutions.

Inox Wind is a fully integrated player in the wind energy sector, operating four manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh. These facilities produce key components such as blades, tubular towers, hubs, and nacelles, with a total annual manufacturing capacity of approximately 2.5 GW.

In May, Inox Wind Energy raised around ₹9 billion (~$108.05 million) through the sale of equity shares of Inox Wind via block deals on the stock exchanges. The funds raised are proposed to be infused into Inox Wind to reduce its debt and augment the company’s working capital to strengthen its balance sheet.

Last November, Inox Wind raised around ₹8 billion (~$96.93 million) by selling its equity shares, advancing toward a debt-free status. These funds were to settle IWEL’s external debt under INOXGFL Group’s strategy to reduce Inox Wind’s debt and fortify the company’s financial position. This transaction was executed via block deals on the stock exchanges and witnessed participation by several marquee domestic and foreign institutional investors.

Inox Wind raised ₹5 billion (~$60 million) in August 2023 through an equity share sale from its main promoter and affiliated group entities, using the funds to settle advances from Gujarat Fluorochemicals and boost wind power capacity.