INOXGFL Group, planning to allocate about ₹20,000 crore towards its green energy and chemical operations over the next four to five years, starting FY25. The conglomerate is active in two primary areas: chemicals and renewable energy, with business lines including fluoropolymers, fluorochemicals, and various forms of renewable energy such as solar, green hydrogen, and wind power.
Around 60-65% of the proposed investment would focus on expanding renewable energy capabilities. In the fiscal year 2023, the group achieved a revenue of ₹6,612 crore and an EBITDA close to ₹2,000 crore.
The group’s leading company, Gujarat Fluorochemicals Ltd (GFCL), through its subsidiary GFCL EV Products Ltd, has committed ₹6,000 crore over the next 4-5 years to develop its battery chemicals division. The investment aims to boost the production of components such as electrolyte salts, additives, electrolyte solutions, cathode active materials, and cathode binders by FY26, primarily for use in electric vehicle batteries and energy storage systems.
GFCL EV is also in the process of setting up an integrated battery chemicals complex at Jolva in Dahej to tap into international markets for battery manufacturing in electric vehicles and energy storage solutions.
As reported by bioenergytimes.com, the INOXGFL Group encompasses several other entities such as GFCL Solar and Green Hydrogen Products, Inox Wind Energy, Inox Wind, Inox Green Energy Services, and INOXGFL Renewables (IGREL).
