INOXGFL Group Enters Solar Manufacturing With ₹1,500 Crore Investment, Targets 5 GW Capacity By 2026

INOXGFL Group has announced its entry into solar manufacturing through its privately held entity, Inox Solar. This marks a significant step forward in the renewable energy sector for the Group, which already has a strong presence in wind energy. By integrating solar with its existing wind capabilities, the Group is now positioned to offer comprehensive renewable energy solutions.

Inox Solar aims to become one of the fastest-growing solar platforms in India, with an ambitious target of establishing 5 GW of solar module manufacturing capacity and 2.5 GW of solar cell manufacturing capacity by 2026. To achieve this, the Group has outlined a capital expenditure of ₹1,500 crores. The first solar module manufacturing facility, with an initial capacity of 1.2 GW, is set to commence operations in Gujarat by March 2025. This facility will produce advanced TopCon modules, aligning with global technology trends in solar energy.

The Group will also provide turnkey Engineering, Procurement, and Construction (EPC) solutions, including land acquisition and power evacuation, through its subsidiary Inox Renewable Solutions Ltd., formerly known as Resco Global Wind Services Ltd. Additionally, post-commissioning operation and maintenance (O&M) services will be offered through Inox Green Energy Services, another Group company. These integrated offerings are designed to ensure a seamless experience for customers, making Inox Solar a one-stop solution for renewable energy needs.

By leveraging synergies within the INOXGFL Group, Inox Solar plans to address the growing demand for hybrid renewable energy solutions, including wind and solar combinations, particularly in the commercial and industrial market segment. Inox Wind’s existing long-term relationships in this sector provide a strong foundation for expanding the Group’s presence in the hybrid energy market. Furthermore, with over 5 GW of plug-and-play power evacuation infrastructure already in place, the Group is well-positioned to capture significant market opportunities.

Inox Solar’s entry into the solar manufacturing space complements the Group’s broader vision of being a deeply integrated player in India’s energy transition. The Group’s footprint already spans electric vehicles, energy storage, wind, solar, and green services, making it one of the most diversified players in the renewable energy ecosystem. The integration of its various business units enables Inox Solar to provide end-to-end solutions, from manufacturing to project execution and maintenance.

Speaking about the Group’s foray into solar, Mr. Devansh Jain, Executive Director of INOXGFL Group, emphasized the importance of advancing India’s renewable energy goals. He highlighted the Group’s commitment to delivering world-class renewable solutions, driving energy independence, and setting new benchmarks in the sector. With its ambitious targets and integrated approach, the INOXGFL Group aims to play a pivotal role in greening India’s energy landscape.