Home / Business and Economy / INOXGFL Group Invests ₹17,000 Cr in Renewable Energy
INOXGFL Group Invests ₹17,000 Cr in Renewable Energy
24 Jan
Summary
- Three MoUs totaling Rs 17,000 crore were signed for renewable energy investments.
- Investments will fund solar power projects and manufacturing plants across three states.
- The agreements were finalized during the World Economic Forum summit in Davos.
INOXGFL Group has committed Rs 17,000 crore to India's burgeoning renewable energy sector. This substantial investment will materialize through three Memorandums of Understanding (MoUs) signed with the governments of Uttar Pradesh, Assam, and Kerala.
The MoUs were officially executed on Friday during the World Economic Forum summit held in Davos, Switzerland. This strategic placement highlights the global attention on India's green energy initiatives.
Under these agreements, INOXGFL Group plans to establish solar power projects, cells, and modules manufacturing plants. Additionally, solar module testing laboratories will be set up within these states, bolstering the domestic renewable energy infrastructure.
The investment includes an initial Rs 10,500 crore pact with the Uttar Pradesh government. Further MoUs collectively worth Rs 6,500 crore were signed with the states of Assam and Kerala, demonstrating a nationwide commitment to renewable energy development.
Devansh Jain, Executive Director of INOXGFL Group, expressed confidence in India's leadership in renewables. He emphasized the investment reflects a strong belief in India's growth, domestic manufacturing, and the synergy between scale, sustainability, and self-reliance in building a future-ready energy ecosystem.
INOXGFL Group's diverse operations span battery materials, wind and solar manufacturing, renewable power generation, fluoropolymers, and fluorochemicals, showcasing a broad engagement in sustainable industries.
