India’s Inox Solar secures land for 4.8-GW solar factory in Odisha – EQ
In Short : Inox Solar has secured land in Dhenkanal, Odisha, to set up a 4.8 GW solar module and cell manufacturing plant. With an investment of ₹4,000 crore, the project will be developed in two phases and create around 3,400 jobs. It supports Odisha’s goal to reach 7.5 GW solar capacity by 2030.
In Detail : Inox Solar, part of Indian conglomerate INOXGFL Group, has secured a site in the eastern state of Odisha to build a manufacturing plant capable of producing 4.8 GW of solar cells and 4.8 GW of solar modules annually.
The government of Odisha has allocated land in Dhenkanal for the project, INOXGFL announced on Tuesday.
The new manufacturing plant, estimated at INR 40 billion (USD 466m/EUR 425m), is expected to create more than 3,400 jobs, strengthen local infrastructure and advance India’s goal of reaching 500 GW of non-fossil fuel energy capacity by 2030. The project received a high level committee approval (HLCA) from the Odisha government in January.
Inox Solar is part of Inox Clean Energy, which is one of the renewable energy business units of INOXGFL. Its first solar module factory in Gujarat, with an initial capacity of 1.2 GW, was projected to be operational by March.
INOXGFL’s project comes as the latest investment in India’s solar manufacturing sector which is currently gaining pace.
