INOXGFL Group to Invest ₹5,500 Crore in Solar Module and Cell Manufacturing Over Two Years.

INOXGFL Group recently announced plans to invest ₹5,500 crore over the next two years to set up solar module and cell manufacturing facilities in Gujarat, Odisha, and overseas.

The announcement came during the inauguration of the company’s first 3 GW Topcon solar module facility at Bavla, Gujarat, valued at ₹400 crore, and a 1.2 GW nacelle and hub manufacturing unit for wind turbines at Kalyangadh, estimated at ₹150 crore, under its listed entity INOX Wind.

“While this is our first module facility, we are also building our first 7.5 GW solar cell manufacturing plant in Odisha, and exploring certain global assets to build or acquire,” said Devansh Jain, Executive Director, INOXGFL Group, during the Bavla event, about 50 km from Ahmedabad.

Jain added that over the next two years, the group is committed to investing ₹5,500 crore to set up 11 GW of solar module and cell capacity across India and overseas. Currently, INOX Wind operates three manufacturing units in Gujarat and Madhya Pradesh with a combined capacity of 1.5 GW of wind turbine generators.