Jupiter International secures Rs 300 crore funding from ValueQuest

Jupiter International on Tuesday said it has secured Rs 300 funding from investment house ValueQuest.

This company will utilise the investment for the expansion of its current cell capacity and initiate module manufacturing operations, it said in a statement.

"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.

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, it added.

"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.