Jupiter International Ltd, a leading solar technology company, has announced it has received ₹500 crore in funding from ValueQuest SCALE Fund and its affiliates. The investment will support the company’s ambitious plans to scale up its solar cell and module manufacturing capacities, further strengthening its role in India’s renewable energy sector.
Currently operating a 1 GW solar cell manufacturing facility in Baddi, Himachal Pradesh, Jupiter International plans to expand its production capacity to 5.6 GW of solar cells and 2.4 GW of solar modules. The newly raised capital, along with internal accruals, will be used to fund the company’s ongoing capital expenditure program aimed at boosting its infrastructure and technological capabilities.
In a statement, Alok Garodia, Managing Director of Jupiter International, said, “This investment reflects long-term confidence in our vision and strengthens our ability to grow efficiently and deliver innovative, sustainable solar solutions.”
Ravi Dharamshi, Founder and CIO of ValueQuest, added, “Jupiter’s integrated business model makes it a critical player in India’s clean energy transformation. Our follow-on investment signals strong belief in their capacity to scale and lead in the renewable energy space.”
Pushkar Jauhari, Managing Director and Head of Private Equity at ValueQuest, also noted, “With a strong focus on advanced manufacturing and cutting-edge technologies, Jupiter is well-positioned to reduce import dependency and contribute meaningfully to the country’s green energy goals.”
Jupiter International Limited, established in 1978 and headquartered in Kolkata, India, is a prominent player in the renewable energy sector, specializing in the manufacturing of photovoltaic solar cells. The company operates a state-of-the-art manufacturing facility in Baddi, Himachal Pradesh, with a production capacity of 800 MW, including advanced Mono PERC cell technology. Jupiter International is committed to delivering high-efficiency solar solutions, catering to the growing demand for sustainable energy sources in India and beyond.
