Jupiter International secures Rs 5 billion to boost solar manufacturing

Jupiter International Limited has raised Rs 5 billion from ValueQuest SCALE Fund and its affiliates to expand its solar manufacturing business. This is the second round of investment from ValueQuest in the company.

The funds, combined with internal accruals, will go toward an ongoing capital expenditure program. The goal is to increase production capacity to 5.6 GW for solar cells and 2.4 GW for solar modules.

Jupiter aims to become a key player across the solar manufacturing value chain. The company plans to focus on forward integration, reduce import dependence, and support national energy goals. Employment generation is also part of the strategy.

Aum Capital was the exclusive financial advisor for this deal.

Earlier this year, in January 2025, Jupiter signed a memorandum of understanding with the Odisha government. The company, through its subsidiary Jupiter Renewables, committed Rs 20.05 billion to set up a solar plant in the state. The new facility will have an annual production capacity of 4.2 GW for solar cells and 3.6 GW for solar modules.