Deals11 Dec 2024, 05:09 pm
INOXGFL Group Forays into Solar Manufacturing with 5 GW Capacity Target by 2026
AI Summary
INOXGFL Group, one of India’s leading business groups, announced its foray into solar manufacturing through Inox Solar, a privately held entity by the promoters. Inox Solar is targeting an initial capacity of 5 GW of solar modules and 2.5 GW of solar cell manufacturing capacity by 2026, at an outlined capex of Rs 1,500 crores. The company will also provide turnkey EPC solutions and post commissioning O&M services through its group companies. The first solar module manufacturing unit with initial capacity of 1.2 GW in Gujarat is expected to be operational by March 2025.
Key Highlights
- INOXGFL Group forays into solar manufacturing through Inox Solar with a target of 5 GW solar modules and 2.5 GW solar cells by 2026.
- The first solar module manufacturing unit with initial capacity of 1.2 GW in Gujarat is expected to be operational by March 2025.
- Inox Solar will provide turnkey EPC solutions and post commissioning O&M services through its group companies.
- The Group aims to be one of the deepest integrated in the energy transition space in India.
- INOX Solar's entry into solar manufacturing complements the Group's existing strengths in the renewable energy ecosystem.