+
Jupiter gains Rs 3 billion investment from ValueQuest for solar plant
POWER & RENEWABLE ENERGY

Jupiter gains Rs 3 billion investment from ValueQuest for solar plant

Jupiter International, a prominent manufacturer of photovoltaic solar cells and provider of solar power solutions in India, has secured an investment of Rs 3 billion from ValueQuest S.C.A.L.E. private equity fund. This funding will be utilised to establish a 1.8 GW solar cell and 1.2 GW module manufacturing facility.

Jupiter has formed a joint venture with AmpIn Energy to develop an integrated solar cell and module capacity of 1.2 GW each. Headquartered in Kolkata with an existing manufacturing facility in Baddi, Himachal Pradesh, Jupiter currently boasts a solar cell manufacturing capacity of 800 MW. The new 1.2 GW solar cell manufacturing facility will be set up in Odisha, dedicated to producing TopCon solar cells, and is expected to be operational by March 2025.

"We are delighted to welcome ValueQuest to our family of investors. Their support will be instrumental in accelerating our growth trajectory. This funding round strengthens our competencies in achieving our revenue and profitability goals. As India emerges as a significant player in solar cell manufacturing, Jupiter is well-positioned to meet the increasing demand domestically and internationally,? said Alok Garodia, Managing Director, Jupiter International.

Aum Capital served as Jupiter?s advisor for this transaction. In 2022, Jupiter raised Rs 1.7 billion from funds managed by Edelweiss Alternative Asset Advisors, which included debt and a convertible-to-equity instrument.

Despite significant growth, India?s solar manufacturing capacity still falls short of demand, leading to continued reliance on imports. In 2023, India imported $5 billion worth of solar cells and modules, marking the highest import value in a single year. This represents an 89.3% increase from $2.6 billion in 2022. Modules accounted for 60.7% of the annual solar imports, while solar cells made up 39.3%. (Source:Mercom India)

Jupiter International, a prominent manufacturer of photovoltaic solar cells and provider of solar power solutions in India, has secured an investment of Rs 3 billion from ValueQuest S.C.A.L.E. private equity fund. This funding will be utilised to establish a 1.8 GW solar cell and 1.2 GW module manufacturing facility. Jupiter has formed a joint venture with AmpIn Energy to develop an integrated solar cell and module capacity of 1.2 GW each. Headquartered in Kolkata with an existing manufacturing facility in Baddi, Himachal Pradesh, Jupiter currently boasts a solar cell manufacturing capacity of 800 MW. The new 1.2 GW solar cell manufacturing facility will be set up in Odisha, dedicated to producing TopCon solar cells, and is expected to be operational by March 2025. We are delighted to welcome ValueQuest to our family of investors. Their support will be instrumental in accelerating our growth trajectory. This funding round strengthens our competencies in achieving our revenue and profitability goals. As India emerges as a significant player in solar cell manufacturing, Jupiter is well-positioned to meet the increasing demand domestically and internationally,? said Alok Garodia, Managing Director, Jupiter International. Aum Capital served as Jupiter?s advisor for this transaction. In 2022, Jupiter raised Rs 1.7 billion from funds managed by Edelweiss Alternative Asset Advisors, which included debt and a convertible-to-equity instrument. Despite significant growth, India?s solar manufacturing capacity still falls short of demand, leading to continued reliance on imports. In 2023, India imported $5 billion worth of solar cells and modules, marking the highest import value in a single year. This represents an 89.3% increase from $2.6 billion in 2022. Modules accounted for 60.7% of the annual solar imports, while solar cells made up 39.3%. (Source:Mercom India)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code