INOXGFL Group Enters Solar Manufacturing Sector.

INOXGFL Group announced its entry into the solar manufacturing sector through its privately-held entity, Inox Solar, aiming to become one of India’s fastest-growing solar platforms.

Inox Solar plans to establish an initial manufacturing capacity of 5 GW for solar modules and 2.5 GW for solar cells by 2026, supported by a ₹1,500 crore capital expenditure. The company’s first solar module manufacturing facility, with a capacity of 1.2 GW, is set to launch in Gujarat by March 2025 and will produce TopCon modules.

In addition to manufacturing, Inox Solar will offer turnkey engineering, procurement, and construction (EPC) services, including land acquisition and power evacuation, through its group company, Inox Renewable Solutions (formerly Resco Global Wind Services). Post-commissioning operations and maintenance (O&M) services will be handled by another group company, Inox Green Energy Services.

The foray into solar manufacturing complements Inox Wind’s existing operations, enabling the group to provide hybrid renewable energy solutions combining wind and solar energy. The group aims to cater to the growing demand in the third-party commercial and industrial (C&I) market, focusing on hybrid and round-the-clock renewable energy solutions.

Integration with Inox Renewable Solutions for solar project EPC and power evacuation is expected to unlock significant revenue opportunities. The move underscores INOXGFL Group’s commitment to expanding its presence in India’s renewable energy landscape.

HBL