INOXGFL's IGREL Renewables secures Rs 3 bn equity from key investors
POWER & RENEWABLE ENERGY

INOXGFL's IGREL Renewables secures Rs 3 bn equity from key investors

INOXGFL Group announced that its privately-held renewable power generation platform, IGREL Renewables, raised Rs 3 billion in equity capital, resulting in a single-digit dilution.

According to the official press release, the company aims to achieve an installed capacity of 2 GW by FY27, with a capital expenditure of about Rs 120 billion.

The release stated that IGREL has already placed firm orders for 200 MW and signed an additional 550 MW Letter of Intent (LoI) with Inox Wind for wind capacities to be executed on a turnkey basis.

The company further mentioned that for its solar capacity development, IGREL has issued multiple LoIs to leading solar EPC companies and plans to place additional orders in the near future.

Additionally, the company has tied up Power Purchase Agreements (PPAs) and received LoIs from Group companies and other large Commercial & Industrial (C&I) customers for over 600 MW capacity. It is in advanced discussions with several C&I customers for additional PPAs and has earmarked certain capacities to be sold on the power exchanges.

The Independent Power Producer (IPP) platform aims to add value to all the Group companies. While the Group companies will secure their long-term power requirements from renewable sources, helping offset their carbon emissions, its renewable companies, including Inox Wind, Resco Global, and Inox Green, will benefit from large-scale business opportunities, the release added.

INOXGFL Group announced that its privately-held renewable power generation platform, IGREL Renewables, raised Rs 3 billion in equity capital, resulting in a single-digit dilution. According to the official press release, the company aims to achieve an installed capacity of 2 GW by FY27, with a capital expenditure of about Rs 120 billion. The release stated that IGREL has already placed firm orders for 200 MW and signed an additional 550 MW Letter of Intent (LoI) with Inox Wind for wind capacities to be executed on a turnkey basis. The company further mentioned that for its solar capacity development, IGREL has issued multiple LoIs to leading solar EPC companies and plans to place additional orders in the near future. Additionally, the company has tied up Power Purchase Agreements (PPAs) and received LoIs from Group companies and other large Commercial & Industrial (C&I) customers for over 600 MW capacity. It is in advanced discussions with several C&I customers for additional PPAs and has earmarked certain capacities to be sold on the power exchanges. The Independent Power Producer (IPP) platform aims to add value to all the Group companies. While the Group companies will secure their long-term power requirements from renewable sources, helping offset their carbon emissions, its renewable companies, including Inox Wind, Resco Global, and Inox Green, will benefit from large-scale business opportunities, the release added.

Next Story
Technology

AirBrick Infra Sets Rs 1 billion Target, Expands to Dubai and Tier-II Cities

AirBrick Infra, one of India’s fastest-growing AI-led commercial interior design and build firms, has announced a sales order target of Rs 1 billion for FY 2025–26. The projection represents a 50 per cent growth over the previous fiscal year and reflects rising demand, increased repeat business, and the company's robust tech-first delivery model.  Now in its third year of operations, AirBrick continues its rapid scale-up, having successfully delivered over 70 projects spanning 3 lakh sq ft in FY 2023–24. FY 2024–25 witnessed the onboarding of several Fortune 500 clients, sett..

Next Story
Resources

Virtusa Foundation Powers Green Education Drive in Bengaluru

The Virtusa Foundation, CSR arm of digital engineering and technology leader Virtusa Corporation, has announced key infrastructure and mobility initiatives at the Ramakrishna Mission, Shivanahalli, Bengaluru. The launch marks the inauguration of a 16-room residential facility for lady teachers and the deployment of two solar-powered electric buses, underscoring Virtusa’s commitment to its core pillars of Education, Environment and Empowerment (3Es).  Located on the forest fringe near Bannerghatta National Park, the initiative supports tribal and underserved communities, complementi..

Next Story
Infrastructure Urban

Godrej Enterprises Drives India’s Smart Green Logistics Shift

As India accelerates its transformation into a global manufacturing and logistics hub, Godrej Enterprises Group (GEG) is taking the lead with its smart, sustainable intralogistics solutions. Through its Material Handling Equipment (MHE) and Storage Solutions businesses, GEG is redefining operational efficiency in modern warehouses and factories using IoT, automation, and AI. GEG has consistently maintained a 20–25 per cent market share in the intralogistics sector over the past three years. Today, over 37 per cent of GEG’s revenues come from its Good & Green portfolio, and its net..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?