Inox Green Enters Solar Maintenance Business with 675 MWp Deal

30 Apr 2025 , 11:28 AM

Inox Green Energy Services Ltd has made a formal foray into the solar operations and maintenance (O&M) business, a strategic move outside its current wind energy services.

The firm signed an agreement to deliver O&M services for 675 megawatt-peak (MWp) of solar power projects of a leading Indian renewable energy firm. The solar projects are located across several states in India, enhancing Inox Green’s pan-India renewable energy footprint.

This venture is aimed at tapping the rapidly expanding solar O&M market, which ranks among the most vibrant and opportunity-filled segments of the renewable energy industry.

Speaking about the development, SK Mathusudhana, CEO, Inox Green Energy, said that venturing into the solar O&M business widens the company’s large-scale growth opportunities.

In the meanwhile, reports indicate that Inox Clean Energy, a subsidiary of the INOXGFL Group, is likely to file a ₹5,000-crore Initial Public Offering (IPO) with SEBI via the confidential route within the next few weeks.

Successful, Inox Clean Energy would be the fifth listed entity of the $12-billion INOXGFL Group, which will further consolidate the group’s footprint in the public markets.

Inox Clean Energy is a vertically integrated renewable energy platform, encompassing solar manufacturing (solar cells and modules) and acting as an Independent Power Producer (IPP).

Four INOXGFL Group entities are listed on Indian stock exchanges as follows:

• Gujarat Fluorochemicals Ltd – the flagship entity renowned for its contribution to advanced chemicals and battery material.
• Inox Wind Ltd – among India’s top wind turbine manufacturers.
• Inox Wind Energy Ltd – the holding company of Inox Wind, currently going through a merger process with it.
• Inox Green Energy Services Ltd – the group’s renewable energy O&M business.

Foray into solar O&M fits into Inox Green’s overall strategy of diversifying its clean energy services and cementing its position as an important player in India’s transition to renewable energy.