INOXGFL Group has entered into three significant memorandums of understanding (MoUs) with the state governments of Uttar Pradesh, Assam, and Kerala, with a combined investment value of Rs 17,000 crore in the renewable energy sector. These agreements were formalized on the sidelines of the World Economic Forum (WEF) summit held in Davos, Switzerland, on Friday, marking a major step in India's green energy initiatives.
Details of the MoUs and Investment Breakdown
As per the MoUs, INOXGFL Group will establish solar power projects, manufacturing plants for solar cells and modules, and solar module testing laboratories across the three states. The investment is strategically distributed to bolster India's renewable infrastructure.
State-wise Investment Allocations
The group signed an initial agreement worth Rs 10,500 crore with the Uttar Pradesh government, focusing on large-scale solar developments. Additionally, MoUs totaling Rs 6,500 crore were collectively signed with Assam and Kerala, aimed at enhancing regional renewable capabilities. A company official, who preferred to remain anonymous, confirmed these figures, highlighting the group's commitment to sustainable growth.
Executive Insights and Strategic Vision
Commenting on the developments, Devansh Jain, Executive Director of INOXGFL Group, emphasized India's rising prominence in the global renewable energy landscape. In response to a query by PTI, he stated, "India is emerging as a global leader in the renewable energy spectrum, and we will continue to contribute to lead this journey. These investments reflect our strong conviction in India's long-term growth story, our commitment to strengthening domestic manufacturing, and our belief that scale, sustainability, and self-reliance must progress together as India builds a resilient and future-ready energy ecosystem."
INOXGFL Group's Diversified Operations
Based in Noida, INOXGFL Group operates across a wide range of business segments, including:
- Battery materials
- Wind and solar manufacturing
- Renewable power generation
- Fluoropolymers and fluorochemicals
This diversification positions the group as a key player in advancing India's energy transition, aligning with national goals for sustainability and economic resilience.
