Inox Wind Limited — Updates, 11-12-2024: Press Release

INOXGFL Group is making a significant move into solar energy with the launch of Inox Solar, reinforcing its commitment to a fully integrated renewable energy portfolio. The company is targeting an initial capacity of 5 GW for solar module manufacturing and 2.5 GW for solar cells by 2026, backed by a planned capital expenditure of ₹1,500 crores. The first solar module manufacturing unit, with an initial capacity of 1.2 GW, is set to become operational in Gujarat by March 2025. Inox Solar will not only focus on manufacturing but will also provide engineering, procurement, and construction (EPC) services as well as operations and maintenance (O&M) solutions through its group entities. The strategic launch positions INOXGFL as a key player in the renewable sector, capitalizing on its existing wind business and extensive infrastructure for power evacuation. This venture is aimed at enhancing energy independence in India while presenting substantial growth opportunities for investors.