InoxGFL Group Expands into Solar Manufacturing
InoxGFL Group, a prominent name in the renewable energy sector, has announced its entry into solar manufacturing with the establishment of two state-of-the-art facilities under its new entity, Inox Solar. The company aims to build a 5 GW solar module manufacturing capacity and a 2.5 GW solar cell production capacity by 2026. This ambitious project involves an equity-funded capital expenditure of ₹1,500 crore.
The first solar module manufacturing unit, featuring an initial capacity of 1.2 GW, will be located in Gujarat and is slated to commence operations by March 2025. The facility will specialize in producing TopCon modules, a cutting-edge technology in solar manufacturing, further reinforcing the company’s commitment to innovation in renewable energy.
Positioning for Comprehensive Renewable Energy Solutions
InoxGFL’s venture into solar energy aligns with its broader strategy to offer comprehensive renewable energy solutions. The company’s renewable energy portfolio already includes wind turbines, electric vehicle (EV) solutions, and battery energy storage systems. The integration of solar manufacturing completes its presence across the renewable energy value chain, positioning it as a leader in hybrid energy solutions.
Devansh Jain, Executive Director of InoxGFL Group, emphasized that this move complements the company’s expertise in wind energy and engineering, procurement, and construction (EPC) services through its group arm, Inox Renewable Solutions. “This expansion allows us to leverage our existing capabilities and create a seamless supply chain in the renewable energy space,” Jain stated.
Capturing Opportunities in a Localized Solar Market
The government’s push for localized manufacturing through the Approved List of Models and Manufacturers (ALMM) has created opportunities for domestic manufacturers like Inox Solar. The Union Ministry of New and Renewable Energy has mandated that solar project developers procure modules and cells manufactured in India by June 2026.
InoxGFL aims to capitalize on this policy shift and meet the growing demand for hybrid energy projects, which combine wind and solar power. By integrating solar manufacturing into its operations, the group is set to provide backward integration for its EPC division, Inox Renewable Solutions, while complementing its existing 5 GW plug-and-play solar infrastructure and 3 GW wind capacity.
With this initiative, InoxGFL Group reinforces its commitment to driving India’s renewable energy transition and maintaining its leadership in sustainable energy solutions.
