DAVOS, Switzerland, Jan 25, 2026, 01:10 CET
- INOXGFL inked three MoUs totaling Rs 17,000 crore in Uttar Pradesh, Assam, and Kerala
- The plans cover solar projects as well as labs for manufacturing and testing solar cells and modules
- According to local media, Telangana held discussions with INOX at Davos about using clean power for data centres
INOXGFL Group has inked three memorandums of understanding totaling 17,000 crore rupees (where a crore equals 10 million) with Uttar Pradesh, Assam, and Kerala to channel investments into renewable energy, a company official confirmed. Executive Director Devansh Jain highlighted that India is “emerging as a global leader” in the renewable energy sector. Indiatimes
The deals came together during the World Economic Forum’s annual meeting in Davos, where Indian states pushed for clean energy projects and fresh manufacturing ventures amid rising power demand and stricter policies.
MoUs are preliminary agreements, not final contracts. Yet the headline figure carries weight in India’s renewable sector, where state governments hold the keys to land, permits, and power purchase rules that ultimately determine if projects advance or get stuck.
INOXGFL’s initial deal with Uttar Pradesh totals 10,500 crore rupees, according to a company official. Assam and Kerala combined add another 6,500 crore. The projects cover solar power plants, manufacturing facilities for solar cells and modules, plus solar module testing labs.
Jain said the investments show the group’s faith in India’s growth story and its efforts to boost domestic manufacturing, the report said.
INOXGFL, headquartered in Noida near New Delhi, operates across several sectors including battery materials, wind and solar manufacturing, renewable power generation, as well as fluoropolymers and fluorochemicals.
At Davos, Telangana chief minister A. Revanth Reddy spoke with INOX Group Director Devansh Jain about “green infrastructure” and clean energy initiatives, according to NewsMeter. Telangana’s IT and industries minister, D. Sridhar Babu, added, “We aim to meet the high demand for renewable power for these facilities,” pointing to the growing number of data centres in the state. Newsmeter
The Telangana talks zeroed in on transforming the Hyderabad metro area into a “net zero” zone — cutting emissions and balancing them with removals — while relocating polluting industries away from the city center, the report said. It also outlined INOX’s plans, beginning with large-scale solar and wind projects, then moving into manufacturing and “green hydrogen,” a fuel produced using renewable electricity.
Kerala, one of the trio of states locking in deals with INOXGFL, has been busy with its own Davos headlines. Industries Minister P. Rajeeve announced the state secured expressions of interest totaling 1.18 lakh crore rupees from 27 companies, dubbing it a “historic achievement.” The proposals cover a range of sectors including renewable energy and data centres. Newindianexpress
Rajeeve mentioned deals involving groups like Greenco and ACME, among others, and added that officials will be appointed to pursue the proposals, the report stated.
MoUs inked at Davos typically take a while before becoming shovel-ready projects. Land acquisition, grid hookups, and state approvals can drag out schedules. Meanwhile, solar manufacturing faces price swings and fierce competition that can tighten margins long before plants hit full scale.
For INOXGFL, the real challenge lies ahead: can the three states turn their pledges into concrete timelines, secure sites, and solid offtake agreements? The company also needs to deliver on generating and manufacturing capacity without stumbling over shifting policies or a dip in demand.
