Inox Green Energy Services (NSE:INOXGREEN, BOM:543667) has forayed into the solar manufacturing space through a promoter-held entity Inox Solar, according to Wednesday's filing to the stock exchanges.
With a projected capital expenditure of 15 billion Indian rupees, Inox Solar aims to produce 2.5 GW of solar cell manufacturing and 5 GW of solar modules.
Inox Solar's first solar module manufacturing unit with an initial capacity of 1.2 GW in Gujarat, India is expected to be operational by March 2025.
Through its group company Inox Renewable Solutions will also provide turnkey engineering, procurement, and construction (EPC) solutions, including land acquisition and power evacuation. It will offer post-commissioning operations and management services through Inox Green Energy Services.
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