INKEL has launched a ₹200 crore renewable energy project with a 23.2 MW solar power plant to be set up on 75 acres in Malappuram. The project marks a major step in Kerala’s green infrastructure development and is the first of its kind group captive model in the state.
Kochi : INKEL, a public-private partnership venture, has announced a ₹200 crore renewable energy project aimed at revolutionizing Kerala’s green development sector. The announcement was made by P. Rajeev, Minister for Industries and Chairman of INKEL, following the company’s board meeting held at Lulu Marriott Hotel, Edappally. The minister stated that INKEL achieved a record revenue of ₹123.87 crore in the financial year 2024–25, along with a net profit of ₹23.53 crore, marking significant growth compared to the previous year. With the company posting profits for the fourth consecutive year, it has decided to declare dividends for the third consecutive year, continuing the trend of the last two years.
The renewable energy project will be developed in collaboration with industrial-commercial groups like IGTPL and the Highlight Group. The first phase involves the development of a 23.2 MW solar power plant on 75 acres at INKEL’s Green Industrial Park in Malappuram, which is fully owned by INKEL. Further expansion of the project is planned in Kasaragod and Palakkad districts, once discussions with other major industrial groups under the group captive model are finalized. This initiative will be the first group captive solar energy model in Kerala.
The project is a continuation of INKEL’s broader commitment under Invest Kerala, where it has pledged ₹1135 crore worth of investments across sectors such as renewable energy, logistics, road development, and infrastructure. The aim is to bring about a revolution in Kerala’s green and sustainable development. Key attendees at the press event included Dr. K. Elangovan, Managing Director of INKEL, Independent Directors Jacob Kovoor Nainan and Adv. Geetha Kumari, and Senior DGM of Business Development, Basheer.
