INOXGFL Group Forays into Solar, to Set Up 5 GW Modules and 2.5 GW Cell Plant by 2026
INOXGFL Group has entered solar manufacturing through Inox Solar, aiming for 5 GW of solar module and 2.5 GW of solar cell capacity by 2026 with an investment of INR 1,500 crore, complemented by turnkey EPC and O&M services to strengthen its integrated renewable energy ecosystem.
December 11, 2024. By Mrinmoy Dey
Inox Solar’s first solar module manufacturing unit with initial capacity of 1.2 GW in Gujarat is expected to be operational by March 2025. The facility will manufacture TopCon modules.
The company will also provide turnkey EPC solutions, including land acquisition and power evacuation, through its group company Inox Renewable Solutions Ltd. Additionally, it will offer post commissioning O&M services through another group company Inox Green Energy Services.
Commenting on the development, Devansh Jain, Executive Director of INOXGFL Group said, “With Inox Solar, we proudly mark a new chapter in INOXGFL Group's journey, advancing India's renewable energy aspirations. This foray into solar energy complements our existing strengths, making us a fully integrated player in the energy transition ecosystem. Our vision is to deliver comprehensive renewable solutions, supported by world-class manufacturing capabilities and turnkey services.”
He further added, “By targeting 5 GW of solar module and 2.5 GW solar cell capacity by 2026, we aim to drive energy independence and empower our stakeholders. Together, we are not just contributing to greening India but also redefining the benchmarks of excellence in the renewable sector."
The company aims to be a strong player in the 3rd party C&I market where customers are looking to set up hybrid and round-the-clock renewable energy capacities and where Inox Wind has long-term relationships
The company in a statement claimed that for the INOXGFL Group, solar manufacturing is a natural extension as it completes the Group’s interests across the entire renewable energy ecosystem, making it one of the deepest integrated Group’s in India in the energy transition space – having a presence across EV, energy storage, wind, solar, and green services etc.
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