Jupiter International secures Rs 300 Cr funding from ValueQuest
The company will utilise the investment for the expansion of its current cell capacity and initiate module manufacturing operations, it said in a statement
Jupiter International on Tuesday said it has secured Rs 300 crore in funding from investment house ValueQuest.
According to a statement, this company will utilise the investment to expand its current cell capacity and initiate module manufacturing operations.
"The new investment will enable Jupiter International to maintain its leadership in the solar industry by setting up a 1.8 GW solar cell and 1.2 GW solar module manufacturing facility," the company said.
It added that the company has also entered into a joint venture with AmpIn Energy to develop an integrated solar cell and module capacity of 1.2 GW each.
"The funding round strengthens our competencies in achieving our revenue and profitability goals. We are well-positioned to meet the increasing demand both domestically and internationally," Alok Garodia, Managing Director of Jupiter International, said.
Headquartered in Kolkata, Jupiter International has an 800 MW solar cell manufacturing facility in Baddi, Himachal Pradesh.
Edited by Affirunisa Kankudti