Jupiter International Ltd, a leading solar solutions provider, has revealed that it has acquired an investment of $500 crore from ValueQuest SCALE Fund and its associated entities. The considerable funding will be used to expedite the company's solar manufacturing growth.

Having an existing facility of 1 GW capacity in Baddi, Himachal Pradesh, Jupiter International plans to take its overall production capacity to 5.6 GW for solar cells and 2.4 GW for solar modules. The latest funding round, along with internal accruals, is to be used to support the company's current capital expenditure program, which is essential to its growth path.

In a statement, Alok Garodia, Managing Director of Jupiter International, said that he was thankful for the investment, pointing out that the ongoing support from ValueQuest is a testament to their faith in the company's capability to expand operations effectively and drive innovation in the solar industry.

Ravi Dharamshi, Founder and Chief Investment Officer of ValueQuest, underscored Jupiter's holistic approach in making the company a central figure in India's shift towards renewable energy. He highlighted that this follow-on investment reflects their faith in Jupiter's ability to increase operations and bring growth to renewable energy in India.

Pushkar Jauhari, Managing Director and Head of Private Equity at ValueQuest, remarked on Jupiter's commitment to advanced manufacturing and next generation technologies. He stated that the company is poised to play a vital role in reducing India's dependency on solar imports while delivering sustainable solar solutions that align with the nation's energy goals.

This investment is a major milestone for Jupiter International as it aims to improve its manufacturing capacity and be part of the increasing demand for renewable energy soluti