INOXGFL Group said on Wednesday that it is foraying into solar manufacturing through Inox Solar, a privately held entity owned by the promoters.

Aiming to be one of the fastest-growing solar platforms in the country, Inox Solar is targeting an initial capacity of 5 gigawatts (GW) for solar modules and 2.5 GW for solar cell manufacturing by 2026, with an outlined capex of ₹1,500 crore.

The company will also provide turnkey EPC solutions, including land acquisition and power evacuation, through its group company, Inox Renewable Solutions (formerly known as Resco Global Wind Services).

Additionally, it will offer post-commissioning O&M services through another group company, Inox Green Energy Services. Inox Solar’s first solar module manufacturing unit, with an initial capacity of 1.2 GW in Gujarat, is expected to be operational by March 2025. The facility will manufacture TopCon modules.

Inox Solar will supplement Inox Wind to provide comprehensive hybrid (wind + solar) renewable energy solutions to customers. It aims to be a strong player in the third-party commercial and industrial (C&I) market, where customers are looking to set up hybrid and round-the-clock renewable energy capacities, and where Inox Wind has long-term relationships.

Integration with Inox Renewable Solutions (formerly known as Resco Global Wind Services) for solar project EPC and power evacuation will lead to large revenue opportunities for Inox Renewable Solutions.