Jupiter International Limited has secured an investment of Rs 5 billion from ValueQuest SCALE Fund and its affiliates to support the company’s expansion in solar manufacturing. This marks ValueQuest’s second round of investment in the company. The new funds, along with internal accruals, will be used for an ongoing capital expenditure programme aimed at scaling up capacity to 5.6 GW of solar cells and 2.4 GW of solar modules.
The expansion also aims to establish Jupiter International as a player across the solar manufacturing value chain. Reportedly, the company’s strategic focus is on enhancing forward integration, reducing reliance on imports, generating employment, and aligning with the national goals. Additionally, Aum Capital acted as the exclusive financial advisor to Jupiter International for this transaction.
In January 2025, Jupiter International signed a MoU with the government of Odisha to invest Rs 20.05 billion through its subsidiary, Jupiter Renewables, in setting up a solar cell and module manufacturing unit in Khordha with an annual capacity of 4,200 MW and 3,600 MW respectively.
