Omkara ARC acquires Rs.3,763-Cr debt of Wind World India

Mumbai-based Omkara Asset Reconstruction Company (Omkara ARC), a member of the Areion Group, has acquired INR 3,763 crore debt of fellow Mumbai-based Wind World India Ltd (WWIL) from the National Asset Reconstruction Company Ltd (NARCL).This strategic acquisition 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 INR 1,225 crore.WWIL, formerly Enercon India operates 650 MW of renewable energy projects and manages the Operations & Maintenance (O&M) for 4,500 MW of installed capacity across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Madhya Pradesh.