In a significant partnership for the renewable energy sector, Inox Solar has signed a 7,000 crore rupee agreement with China’s LONGi Green Energy Technology. The deal will see Inox Solar supply a large volume of solar panels for the Indian market over the next three years, reported Energetica India.
Under this arrangement, LONGi will purchase the solar panels from Inox Solar’s Indian factories. The Chinese company will also provide its expertise to ensure the products meet high-quality standards.
“This partnership allows us to combine our manufacturing strength with global quality benchmarks,” a representative familiar with the deal stated.
The collaboration comes at a time when Indian regulations require most large solar projects to use panels from domestic manufacturers. This agreement enables LONGi to supply the Indian market while complying with these rules, as the panels will be sourced from within India.
The deal supports Inox Solar’s expansion of its production capabilities. The company recently opened a new, fully automated factory in Gujarat and is developing a larger manufacturing facility in Odisha.
“This agreement is a key part of our strategy to grow our manufacturing presence in India,” a company spokesperson said.
In a related financial development, Inox Solar’s parent company has begun the process for a public listing to raise funds for its future growth.
