Jupiter International raises $36 million to expand solar energy production

By pv magazine India

Jupiter International, an Indian solar cell manufacturer, said it has secured an investment of about $36 million led by the ValueQuest SCALE PE fund.

The investment will boost Jupiter International’s solar cell capacity expansion and module production. It includes setting up a 1.8 GW solar cell facility and collaborating with AmpIn Energy on integrated solar cell and module capacity.

Jupiter International is based in Kolkata and has an 800 MW solar cell factory in Baddi, Himachal Pradesh.

“This funding round strengthens our capabilities in achieving our revenue and profitability goals,” said Alok Garodia, Managing Director of Jupiter International. “As India emerges as a major player in solar cell manufacturing, Jupiter is well positioned to meet increasing demand both domestically and internationally.”

Aum Capital advised Jupiter International on the transaction. The Kolkata-based company already operates an 800 MW solar cell factory in Baddi, Himachal Pradesh.