New Delhi: A major agreement has been signed that will give a new impetus to Indias renewable energy sector. Inox Solar a company of the INOXGFL Group has signed a contract worth approximately ₹7000 crore with Longi Green Energy Technology a leading Chinese solar energy company. Under this agreement Inox Solar will supply 5 gigawatts of solar modules to Longi over the next three years. This deal not only marks a major milestone for Indias solar industry but also signals that the world is beginning to trust Indias growing manufacturing capacity including countries like China. India rapidly growing in solar module production According to sources in the Economic Times Chinas Longi Green Energy will purchase modules for the Indian market from Inox Solar. Under this deal Longi will provide Inox with its advanced technical expertise and experience with global quality standards. The aim is to ensure that Inoxs products meet international standards. This deal comes at a time when India is rapidly expanding its domestic production of solar modules to reduce its dependence on imports. Inox Solars expansion and new factories Inox Solar recently commissioned its new solar module manufacturing plant in Bavla near Ahmedabad. Its capacity is set to be 1.2 gigawatts in the first phase which will be expanded to 3 gigawatts in the next phase. The company is not stopping there; it is building another large solar cell and module plant in Dhenkanal Odisha with a total capacity of 4.8 gigawatts. This facility could significantly transform solar manufacturing in India. Preparations for an IPO and plans Inox Solars parent company Inox Clean Energy is also preparing to go public. The companys IPO is expected in the fourth quarter of this fiscal year. It aims to further strengthen its presence in Indias rapidly growing clean energy manufacturing sector. India currently has over 100 gigawatts of solar module production capacity while solar cell manufacturing capacity is 27 gigawatts which is expected to increase to 40 gigawatts by the end of this year. This agreement between Inox and Longi is a major step in that direction positioning India as a strong hub in the global supply chain for solar energy manufacturing.