Jupiter International secures INR 300 crore to expand solar manufacturing

Jupiter International, which has a solar cell production capacity of 800 MW per year, will use the funds to set up a 1.8 GW PV cell and 1.2 GW panel manufacturing facility. The company has also entered into a joint venture with AmpIn Energy to develop an integrated solar cell and module capacity of 1.2 GW each.

July 16, 2024 Uma Gupta

Alok Garodia, managing director of Jupiter International

Jupiter International

Jupiter International Ltd, a solar cell manufacturer and solar power solutions provider in India, announced today that it has secured an investment of INR 300 crore ($36 million), led by ValueQuest S.C.A.L.E. PE fund.

The company said that the substantial investment will drive the expansion of Jupiter International’s current cell capacity and initiate module manufacturing operations.

The new investment will enable Jupiter International to set up a 1.8 GW solar cell and 1.2 GW solar module manufacturing facility. The company has also entered into a joint venture with AmpIn Energy to develop an integrated solar cell and module capacity of 1.2 GW each.

Jupiter International is headquartered in Kolkata and has a state-of-the-art solar cell manufacturing facility in Baddi, Himachal Pradesh, with a capacity of 800 MW per year. The company, incorporated in 2009, is promoted by Alok Garodia.

Alok Garodia, managing director of Jupiter International, said, “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 both domestically and internationally.”

Aum Capital served as the advisor to Jupiter International on this transaction.

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