INOXGFL to invest Rs 17,000 cr in renewables, signs MoUs with three states

New Delhi/Davos: INOXGFL Group has signed three MoUs worth Rs 17,000 crore with Uttar Pradesh, Assam and Kerala governments to invest in renewable energy space, a company official said.

The memorandums of understanding (MoUs) were signed on the sidelines of the World Economic Forum (WEF) summit in Davos, Switzerland on Friday.

As per the MoUs, INOXGFL Group will set up solar power projects, cells and modules manufacturing plants as well as solar module testing laboratories in the states.


With Uttar Pradesh government, the group signed an initial agreement worth Rs 10,500 crore, and MoUs worth Rs 6,500 crore were signed with Assam, and Kerala collectively, the company official said wishing not to be quoted.

Commenting on a query by PTI, Devansh Jain, Executive Director, INOXGFL Group, said, "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."

Noida-based INOXGFL Group's operations span across diversified business segments comprising battery materials, wind and solar manufacturing, renewable power generation, fluoropolymers, fluorochemicals, among others.