Omkara Asset Reconstruction Company (Omkara ARC) has acquired the debt of Wind World India (WWIL) from the National Asset Reconstruction Company (NARCL) by investing ₹12.25 billion (~$138.06 million).

This acquisition, finalized under the Swiss Challenge Method, positions Omkara ARC as the lead decision-maker in WWIL’s ongoing corporate insolvency resolution process, holding an 80% voting share in the committee of creditors.

The Swiss Challenge Method is a bidding method in which a private sector participant submits an unsolicited proposal to the government for an infrastructure project.

The original debt of ₹37.63 billion (~$424.10 million) was assigned to NARCL by a consortium of lenders nearly 18 months ago. With the National Company Law Tribunal permitting the withdrawal of the existing resolution plan, the path has now been cleared for inviting fresh expressions of interest from potential resolution applicants to revive Wind World India.

Omkara ARC said the transaction is a significant milestone for the company, underscoring its commitment to infrastructure-linked investments, particularly within the renewable energy domain.

WWIL, formerly Enercon India, operates 650 MW of renewable energy projects and manages operations & maintenance for 4,500 MW of installed capacity across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan, Tamil Nadu, and Madhya Pradesh.

Commenting on the acquisition, Manish Lalwani, Co-Founder and Managing Director, Areion Group, sister company of  Omkara ARC, said Wind World India represents a critical piece of the country’s renewable energy infrastructure. The deal underscores the company’s role in driving sustainable growth, restoring enterprise value, and contributing meaningfully to the national economy.

India added 1.6 GW of wind energy capacity in the second quarter of 2025, a 113% year-over-year increase from 769 MW in Q2 2024, according to Mercom India Research.

Gujarat led the capacity additions in the quarter with 1.14 GW. Karnataka added 363.6 MW. Of the remaining 134 MW, Tamil Nadu contributed 90 MW, Maharashtra and Andhra Pradesh added 23.1 MW and 20.6 MW, respectively.

As of June 2025, the cumulative installed wind capacity stood at 51.6 GW, representing a 3.3% increase from 50 GW at the end of March 2025.