Aiming to expand solar cell manufacturing capabilities amidst India’s growing demand for solar energy, Jupiter International has secured $3 billion led by ValueQuest.
On Tuesday, Jupiter International announced it has received $3 billion in funding from investment house ValueQuest. This significant investment will not only expand Jupiter International’s cell capacity and initiate module manufacturing operations but also has the potential to significantly impact the solar energy industry. The new investment will enable Jupiter International to maintain its leadership in the solar industry by setting up a 1.8 gigawatt (GW) solar cell and 1.2 GW solar module manufacturing facility.
The company has also formed a joint venture with Amplyn Energy to develop integrated solar cells and modules with a capacity of 1.2 GW each.
Jupiter is setting up the 1.2 GW solar cell manufacturing facility in Odisha. The facility will exclusively manufacture TopCon solar cells, a high-efficiency solar technology, and is expected to be commissioned by March 2025.
Alok Garodia, Managing Director of Jupiter International, underscores the company’s unwavering commitment to meeting the increasing demand for solar energy, both domestically and internationally.
Previously, the company successfully operated an 800 MW solar cell manufacturing facility in Baddi, Himachal Pradesh.
