From pv magazine India
Jupiter International, an Indian solar cell manufacturer, said that it has secured an investment of about $36 million, led by the ValueQuest S.C.A.L.E. PE fund.
The investment will drive Jupiter International's expansion of solar cell capacity and launch module manufacturing operations. It includes setting up a 1.8 GW solar cell facility and partnering with AmpIn Energy on integrated solar cell and module capacity.
Jupiter International is based in Kolkata and has an 800 MW solar cell factory in Baddi, Himachal Pradesh.
“This funding round strengthens our competencies in achieving our revenue and profitability goals,” said Alok Garodia, managing director of Jupiter International. “As India emerges as a significant player in solar cell manufacturing, Jupiter is well-positioned to meet the increasing demand both domestically and internationally.”
Aum Capital advised Jupiter International on the transaction. The Kolkata-based company already operates an 800 MW solar cell factory in Baddi, Himachal Pradesh.
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