Aiming to cut imports and boost domestic manufacturing, Jupiter International announces the receipt of ₹5 billion from ValueQuest to expand solar cell capacity from 1GW to 5.6GW.
Renewable energy equipment manufacturer Jupiter International Limited has recently secured ₹5 billion in funding from ValueQuest SCALE Fund and its affiliates. According to the company, the investment marks ValueQuest’s second backing of the solar manufacturing firm, signalling continued support for its expansion strategy.
Jupiter currently operates a 1GW photovoltaic solar cell facility in Baddi, Himachal Pradesh. It plans to increase its manufacturing capacity to 5.6GW of solar cells and 2.4GW of solar modules. The latest funding round and internal accruals will be used to support its ongoing capital expenditure plans.
The company aims to become an integrated player in the solar manufacturing sector, focusing on forward integration to reduce reliance on imports and support domestic job creation.
Announcing this achievement, the company noted that this expansion aligns with national goals for clean energy and increased self-sufficiency in renewable technologies.
“ValueQuest’s second investment reaffirms investor trust and strengthens our position as one of the leading manufacturers in the renewable energy sector. As a long-term partner, their continued confidence underscores our ability to scale efficiently and drive innovation. With a fully integrated approach, we are poised to enhance technology, expand market share, and meet the growing demand of renewable energy solutions,” said Alok Garodia, Managing Director, Jupiter International Limited.
“Jupiter’s integrated approach makes it a key player in India’s energy transition. This second investment reflects our trust in their ability to scale operations and drive renewable growth,” noted Ravi Dharamshi, Founder and CIO, ValueQuest.
Pushkar Jauhari, Managing Director and Head of Private Equity at ValueQuest, stated that Jupiter’s emphasis on advanced manufacturing and next-generation technologies was expected to position the company as an essential contributor to reducing import dependency and providing sustainable solar solutions.
Aum Capital acted as the exclusive financial advisor to Jupiter for the deal.
