INOXGFL Group has signed three memorandums of understanding worth Rs 170 billion with the governments of Uttar Pradesh, Assam and Kerala to invest in India’s renewable energy sector, strengthening its role in the country’s clean energy transition.

The agreements were signed on the sidelines of the World Economic Forum summit in Davos, highlighting growing interest among Indian conglomerates in expanding renewable power generation and domestic manufacturing capacity.

Under the proposed investments, INOXGFL Group plans to develop solar power projects, establish solar cell and module manufacturing facilities, and set up solar module testing laboratories across the three states. Of the total proposed investment, Rs 105 billion has been committed through an agreement with the Uttar Pradesh government, while the remaining Rs 65 billion will be allocated across Assam and Kerala.

The company said the investments align with India’s broader strategy to scale up renewable energy capacity, strengthen domestic manufacturing and reduce dependence on imports across the clean energy value chain.

Headquartered in Noida, INOXGFL Group operates across a diversified portfolio spanning battery materials, wind and solar manufacturing, renewable power generation, fluoropolymers and fluorochemicals. The latest MoUs are expected to support state-level renewable energy objectives while contributing to national targets for clean power expansion and energy security.

The proposed projects are also expected to generate employment and strengthen local supply chains, as states intensify efforts to attract long-term capital into renewable infrastructure and manufacturing.