Jupiter Int secures Rs 500cr funding from ValueQuest
Times of India | 15 April 2025
123 Kolkata: Jupiter International Ltd, a manufacturer of photovoltaic solar cells, announced on Monday that it had secured Rs 500 crore investment from ValueQuest SCALE Fund and its affiliates to scale up its business in the solar sector.
This is the second time the solar solutions provider has got funding from ValueQuest; it had secured Rs 300 crore from them last July.
Jupiter currently operates from a 1-GW facility in Baddi, Himachal Pradesh and is planning to increase the total capacity to 5.6 GW solar cells and 2.4 GW solar modules.
The present funding round of Rs 500 crore and internal accruals is proposed to support the company's ongoing capex programme, Jupiter MD Alok Garodia said.
"ValueQuest's second investment reaffirms investor trust and strengthens our position as one of the leading manufacturers in the renewable energy sector. With a fully integrated approach, we are poised to enhance technology, expand market share and meet the growing demand of renewable energy solutions," said Garodia.
"This second investment reflects our trust in their ability to scale up operations and drive renewable growth" said Ravi Dharamshi, founder and CIO, ValueQuest.