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)

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?