Swiss Climate Investor responsAbility Commits Rs. 1.9 bn to Navitas Solar
POWER & RENEWABLE ENERGY

Swiss Climate Investor responsAbility Commits Rs. 1.9 bn to Navitas Solar

Swiss impact asset manager responsAbility has committed growth capital of up to Rs. 1.9 bn to Surat-based Navitas Solar to support the company’s entry into solar cell manufacturing. The funding will contribute to a planned 2.2 GW facility involving an investment of Rs. 10 bn.

The investment has been made on behalf of investors through responsAbility’s Asia Climate Fund. Structured as quasi-equity, combining debt and equity, it will be used entirely for capital expenditure for the proposed solar cell plant. Navitas Solar has already received Rs. 1.25 bn in the first tranche, with the balance expected to be disbursed over the next 3 to 4 months.

The Asia Climate Fund focuses on scalable private-sector solutions in high-growth markets that can deliver measurable carbon dioxide reductions and positive societal impact. The investment is expected to support Navitas Solar’s backward integration and strengthen its position across India’s solar manufacturing value chain.

Navitas Solar had previously raised capital from family offices and domestic funds in 2023 and 2025. The company is also considering expansion into wafer and ingot manufacturing as India seeks to strengthen domestic renewable energy production and reduce reliance on imported components.

Founded in 2013 and headquartered in Surat, Gujarat, Navitas Solar operates across solar module manufacturing, encapsulant production, engineering, procurement and construction services, battery energy storage systems and renewable power generation. It manufactures Mono PERC and N-type TOPCon modules ranging from 40 Wp to 720 Wp, serves customers across India and is pursuing international opportunities. The company is also developing advanced TOPCon and perovskite-TOPCon hybrid tandem modules through a partnership with Caelux. Centrum Capital’s Infrastructure Advisory arm acted as exclusive financial adviser on the transaction.

Swiss impact asset manager responsAbility has committed growth capital of up to Rs. 1.9 bn to Surat-based Navitas Solar to support the company’s entry into solar cell manufacturing. The funding will contribute to a planned 2.2 GW facility involving an investment of Rs. 10 bn. The investment has been made on behalf of investors through responsAbility’s Asia Climate Fund. Structured as quasi-equity, combining debt and equity, it will be used entirely for capital expenditure for the proposed solar cell plant. Navitas Solar has already received Rs. 1.25 bn in the first tranche, with the balance expected to be disbursed over the next 3 to 4 months. The Asia Climate Fund focuses on scalable private-sector solutions in high-growth markets that can deliver measurable carbon dioxide reductions and positive societal impact. The investment is expected to support Navitas Solar’s backward integration and strengthen its position across India’s solar manufacturing value chain. Navitas Solar had previously raised capital from family offices and domestic funds in 2023 and 2025. The company is also considering expansion into wafer and ingot manufacturing as India seeks to strengthen domestic renewable energy production and reduce reliance on imported components. Founded in 2013 and headquartered in Surat, Gujarat, Navitas Solar operates across solar module manufacturing, encapsulant production, engineering, procurement and construction services, battery energy storage systems and renewable power generation. It manufactures Mono PERC and N-type TOPCon modules ranging from 40 Wp to 720 Wp, serves customers across India and is pursuing international opportunities. The company is also developing advanced TOPCon and perovskite-TOPCon hybrid tandem modules through a partnership with Caelux. Centrum Capital’s Infrastructure Advisory arm acted as exclusive financial adviser on the transaction.

Related Stories

Gold Stories

Next Story
Real Estate

Shree Naman Group acquires JW Marriott Bengaluru, Crowne Plaza Pune

Shree Naman Group has completed the acquisition of JW Marriott Bengaluru for Rs 16.11 billion and Crowne Plaza Pune for Rs 1.89 billion, taking its hospitality portfolio beyond Mumbai into two key business and hospitality markets.The Rs 18 billion transaction was completed on 1 October 2026, within 30 days of approval by the National Company Law Tribunal (NCLT) on 3 September 2026, following a competitive bidding process.The two hotels join the Group’s existing properties in Mumbai: Sofitel Mumbai BKC, Lemon Tree Hotel, Kalina BKC, and ibis Mumbai BKC. The portfolio now comprises five operat..

Next Story
Real Estate

Sobha Realty marks fourth year of IIFA partnership

Sobha Realty has reaffirmed its association with the International Indian Film Academy (IIFA) for the fourth consecutive year, returning as Title Sponsor of IIFA Weekend and Co-Presenting Sponsor of the IIFA Awards 2027. At a press conference in Mumbai, the UAE-based developer also highlighted its expansion into Abu Dhabi and its growing international presence.The upcoming IIFA Weekend and Awards will be held on 22 and 23 January 2027 at Etihad Arena, Yas Island, Abu Dhabi. The partnership, which began in Abu Dhabi in 2023, provides the developer with a platform to engage with Indian audiences..

Next Story
Technology

Powerplay Records 4X Growth in Platform Spend with AI Adoption

Construction technology platform Powerplay has reported up to fourfold growth in platform spending among customers adopting its artificial intelligence (AI) agents over approximately 18 months. The growth reflects increased adoption of AI-driven procurement and financing solutions among contractors and builders across India.The Bengaluru-based company has introduced an AI workforce designed to automate procurement coordination, supplier comparisons, material tracking and financing documentation. Its AI Purchase Executive enables contractors to compare supplier prices, monitor material requirem..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code