Indian solar manufacturer Jupiter secures USD 22m for growth - report

Solar cells. Author: Arne Krueger. License: Creative Commons.

March 14 (Renewables Now) - Indian solar cell maker Jupiter International has secured INR 1.7 billion (USD 22.2m/EUR 20.2m) from funds run by India’s Edelweiss Alternative Asset Advisors to help grow its manufacturing capacity, The Economic Times reported on Monday.

The funding is a mixture of debt and a convertible-to-equity instrument, according to the article.

Jupiter International managing director Alok Garodia was cited as saying that the manufacturer intends to establish a greenfield integrated cell and module line of 2 GW in addition to a 500-MW cell line using monocrystalline passivated emitter and rear cell (PERC) technology that is currently under construction and due to be commissioned in the coming six months.

According to Edelweiss Alternative Asset Advisors executive vice president Kriti Mohan Ghosh, demand for Indian solar cells is poised for strong growth on the back of positive government policies.

(INR 1 = USD 0.013/EUR 0.012)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription