Jupiter Intl Secures Rs 500 Cr Investment

New Delhi: Solar solutions provider Jupiter International Ltd on Monday said it has secured an investment of Rs500 crore from ValueQuest SCALE Fund and its affiliates to accelerate solar manufacturing expansion.

The company 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 company said in a statement. The present funding round of Rs500 crore and internal accruals is proposed to support the company's ongoing capex programme, it said. According to the statement, Jupiter International Ltd -- a manufacturer of photovoltaic solar cells and a provider of comprehensive solar power solutions -- has announced that it has secured a Rs500 crore investment from ValueQuest SCALE Fund and its affiliates. As a long-term partner, their continued confidence underscores our ability to scale efficiently and drive innovation, Jupiter International Managing Director Alok Garodia said.