Inox Solar Partners With LONGi for 5 GW Solar Module Supply Over Three Years

Inox Solar Limited, a wholly-owned subsidiary of Inox Clean Energy, has entered into a Memorandum of Understanding (MoU) with LONGi (HK) Trading. This agreement is set to supply up to 5 Gigawatts (GW) of solar modules to the Indian market over a period of three years.

Key aspects of this collaboration include aligning Inox Solar with global leaders like LONGi to accelerate its journey towards manufacturing excellence. The partnership is expected to ensure that the Indian market continues to receive advanced and competitive solar technologies. Both companies will work together to adhere to internationally benchmarked manufacturing and quality standards, aiming to reduce the time lag in adopting new solar innovations in India and bolstering the technological capabilities of domestic manufacturers.

Kailash Tarachandani, Group CEO Renewables, INOXGFL Group, stated that this partnership will help accelerate manufacturing excellence and market access to advanced solar tech. Frank Zhao, President of LONGi APAC, expressed LONGi's commitment to working with Indian partners to drive clean energy adoption through knowledge sharing and technical cooperation.

Inox Solar has already begun production at its 1.2 GW solar module manufacturing facility in Bavla, Gujarat, which is set to expand to 3 GW. Additionally, it is establishing a 5 GW integrated solar cell and module manufacturing facility in Dhenkanal, Odisha.

Impact: This strategic partnership is expected to significantly boost Inox Solar's manufacturing capabilities and market presence, contributing to India's renewable energy targets. It could also lead to more competitive pricing and better technology adoption in the domestic solar market. The expansion of manufacturing facilities by Inox Solar further strengthens the 'Make in India' initiative for solar components. Rating: 8/10

Difficult Terms: MoU: Memorandum of Understanding. A preliminary agreement between parties to establish the framework for a future contract. GW: Gigawatt. A unit of power equal to one billion watts, commonly used for large-scale electricity generation. Solar Modules: Panels that convert sunlight into electricity. Manufacturing Capacity: The maximum output a factory can produce in a given period.