+
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

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code