InoxGFL Group ventures into solar energy with ambitious plans

INOXGFL Group, a renowned player in India’s renewable energy landscape, has officially announced a transformative foray into solar energy, aiming to bolster its position as a fully integrated renewable energy solutions provider. The move, spearheaded by Inox Solar, is set to capitalise on the Group’s existing synergies in wind energy, positioning it as a hybrid renewable energy powerhouse.

Strategic Vision for Solar Expansion

Inox Solar, a privately held entity under the INOXGFL Group, plans to establish itself as one of the fastest-growing solar platforms in the country. The company is targeting a significant manufacturing capacity of 5 GW of solar modules and 2.5 GW of solar cells by 2026, backed by an investment of ₹1,500 crores. Its initial solar module manufacturing facility, with a capacity of 1.2 GW, is expected to commence operations in Gujarat by March 2025, leveraging cutting-edge TopCon technology.

This strategic entry into solar energy complements the Group’s existing wind energy operations, creating a robust platform for delivering comprehensive renewable energy solutions. By targeting the commercial and industrial (C&I) market for hybrid energy solutions, Inox Solar aims to cater to increasing demands for round-the-clock renewable energy capacities.

Holistic Renewable Energy Solutions

Inox Solar’s ambitions extend beyond manufacturing. Through partnerships within the Group, the company will provide end-to-end EPC (engineering, procurement, and construction) and O&M (operations and maintenance) services. Inox Renewable Solutions Ltd., formerly Resco Global Wind Services Ltd., will oversee project execution and power evacuation, while Inox Green Energy Services will handle post-commissioning maintenance, creating a seamless service chain for clients.

INOXGFL’s extensive renewable infrastructure—boasting over 5 GW of plug-and-play power evacuation capabilities—is expected to generate substantial revenue opportunities. This integration ensures a competitive edge in the renewable sector, allowing the Group to cater to large-scale projects and enhance its market presence.

A Landmark in India’s Renewable Energy Aspirations

Executive Director Devansh Jain highlighted the significance of this venture, describing it as a pivotal step in advancing India’s renewable energy goals. He emphasised the Group’s commitment to delivering world-class renewable solutions and driving energy independence. Jain noted that Inox Solar’s entry into the solar sector underscores the INOXGFL Group’s dedication to innovation and excellence, particularly in the energy transition space.

A Legacy of Green Innovation

With over 90 years of industry expertise, the INOXGFL Group is a leader in diverse business verticals, including fluoropolymers, fluorochemicals, battery chemicals, wind turbines, and renewable energy. The Group, valued at approximately $12 billion, continues to set benchmarks with its forward-thinking strategies and substantial contributions to sustainable development.

The solar initiative aligns with the Group’s broader vision of integrating electric vehicles, energy storage, wind, and solar solutions to support India’s green energy transition. By combining its legacy of innovation with a mission to redefine renewable energy benchmarks, INOXGFL Group is poised to make a lasting impact on the industry.