NewsOrders & DealsInox Solar Inks ₹7,000 Crore Deal with China's LONGi for 5GW Solar Module SupplyInox Solar Inks ₹7,000 Crore Deal with China's LONGi for 5GW Solar Module Supply
Inox Solar, a subsidiary of Inox Green Energy, has signed a ₹7,000 crore agreement with Chinese solar company LONGi. The deal involves the supply of 5 GW of solar modules over a three-year period. This collaboration provides LONGi with stronger access to the Indian solar market, while Inox Solar gains access to LONGi's latest module and cell technologies. The partnership aligns with the growing trend of renewable energy adoption in both India and China.
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Inox Solar, a subsidiary of Inox Green Energy, has entered into a significant agreement with Chinese solar giant LONGi, marking a major development in the renewable energy sector. The deal, valued at ₹7,000 crore, involves the supply of 5 GW of solar modules over a three-year period.
Key Details of the Agreement
| Aspect | Details |
|---|---|
| Deal Value | ₹7,000 crore |
| Supply Capacity | 5 GW of solar modules |
| Duration | 3 years |
| Indian Company | Inox Solar (subsidiary of Inox Green Energy) |
| Chinese Company | LONGi |
Strategic Implications
This collaboration brings several advantages to both parties:
- Market Access: LONGi gains a stronger foothold in the growing Indian solar market.
- Technological Benefits: Inox Solar will have access to LONGi's latest module and cell technologies.
- Innovation Adoption: The partnership enables near-simultaneous adoption of next-generation innovations from China in India.
Broader Context
This deal reflects the increasing interest and investment in solar and clean energy in both India and China. It aligns with the findings of a recent report by think tank Ember, which highlighted that:
- China and India are key contributors to the growth of renewable energy.
- Renewables are projected to surpass coal for the first time in 2025.
Industry Outlook
The partnership between Inox Solar and LONGi underscores the rapid advancement of the renewable energy sector in Asia. As both India and China continue to emerge as leaders in clean energy, such collaborations are likely to play a crucial role in shaping the future of the global energy landscape.
This deal not only signifies a substantial business transaction but also represents a step forward in international cooperation for sustainable energy solutions. As the world increasingly shifts towards cleaner energy sources, partnerships like these may become more common, fostering technological exchange and accelerating the adoption of renewable energy technologies across borders.
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