Jupiter International Limited secures ₹500 Crore investment from ValueQuest SCALE Fund and its affiliates to accelerate solar manufacturing expansion

14 April 2025, Bengaluru: Jupiter International Limited (“Jupiter International” / “Company”), a manufacturer of photovoltaic solar cells and a provider of comprehensive solar power solutions, has announced today that it has secured a ₹500 crore investment from ValueQuest SCALE Fund and its affiliates. This marks ValueQuest’s retaining second investment, reinforcing its confidence in Jupiter International’s growth and expansion in the solar energy sector.

The Company currently operates at a 1 GW facility in Baddi, Himachal Pradesh and plans to increase the total capacity to 5.6 GW solar cells and 2.4 GW solar modules. The present funding round of ₹500 crore and internal accruals is proposed to support the Company’s ongoing capex program.

The Company intends to build on its capability and become an integrated player in the solar manufacturing value chain. This strategic move enhances forward integration, reduces import dependency, creates jobs, and is in line with the country’s vision on clean energy transition.

“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”. said Mr. Ravi Dharamshi, Founder and CIO, ValueQuest.

“With their focus on advanced manufacturing and next-gen technologies, Jupiter will play a vital role in reducing import dependency and delivering sustainable solar solutions,” – said Mr. Pushkar Jauhari, MD & Head – Private Equity, ValueQuest

Aum Capital acted as the exclusive financial advisor to Jupiter for this transaction, facilitating the investment from ValueQuest SCALE Fund and its affiliates.

The Company’s commitment to advanced solar solutions and manufacturing techniques positions it as one of the leading manufacturers in the renewable energy sector, offering sustainable and cost-effective solar solutions to meet the nation’s energy needs.