AMPIN Energy Transition and Jupiter International Partner to Setup up to 1.3 GW Solar Cell & Module Manufacturing Unit in India

October 25 2023 – AMPIN Energy Transition (Formerly Amp Energy India), a leading Independent Power Producer (IPP) in India, is pleased to announce its strategic partnership with Jupiter International Limited to establish a joint venture dedicated to the solar manufacturing business. This collaboration marks a significant milestone to boost the solar cell and module manufacturing capacity in India and fostering self-reliance.

Under the JV, a state-of-the-art manufacturing facility will be set up, aimed at manufacturing up to 1.3 gigawatts (GW) of high-quality solar cells and modules under the PLI tranche -II scheme of the government of India.

The PLI initiative supports the Indian government’s ambition to boost manufacturing, diminish global supply chain disruptions and reduce India’s dependence on solar imports. As AMPIN delves into manufacturing, it aims to enhance its grip on the supply chain for essential components. The appetite for India-produced solar cells is robust, and as favorable policies take root, production costs are anticipated to drop, giving the industry a competitive edge.

Jupiter International already has an 800 MW solar cell manufacturing stronghold in Himachal Pradesh. It is a heritage company with over 15 years experience in manufacturing global quality high efficiency solar cells with a track record of manufacturing excellence and constant technological upgradation. The company has been forward looking and has navigated the turbulence in the solar industry by constantly investing in its technical competence. The alliance looks to leverage Jupiter’s vast expertise and AMPIN’s steadfast dedication to providing the lowest cost renewable power to its customers. Under the JV’s stipulations, the modules will be consumed locally by AMPIN and supplied to third party developers propelling both domestic and export growth in India’s renewable sector.

Mr. Pinaki Bhattacharyya, MD and CEO of AMPIN Energy Transition, remarked on the collaboration: “Partnering with Jupiter International, a vanguard in solar cell production, resonates with the Indian government’s vision of a self-sufficient nation and underscores our unwavering dedication to a greener future. This move will help us achieve backward integration and enhance our control over the supply chain for crucial components, which would help us optimize our operations for quality, efficiency and cost-effectiveness. There is a strong demand for Indian solar modules and with the right support and policies, they will become cost effective and competitive globally.”

Mr. Alok Garodia, Chairman, Jupiter International said, “We are happy to collaborate with AMPIN as this partnership will redefine the solar manufacturing landscape in India. Combining our solar cell manufacturing prowess with AMPIN’s commitment to renewables, will play a major role in stabilising the supply chain and reducing India’s reliance on imports. We bring in competencies in designated parts of the value chain, and together, we will be a formidable force.”

About AMPIN Energy Transition

AMPIN Energy Transition is India’s leading renewable energy transition platform with a total portfolio of ~3GWp spread across 17 states in the country. Headquartered in New Delhi with regional offices in Mumbai, Bangalore & Kolkata, AMPIN is run by an industry leading team of professionals and backed by leading institutional investors from Europe, Asia and North America. AMPIN has a balanced portfolio of renewable energy projects providing C&I and utility customers a complete renewable energy transition solution by providing renewable energy while reducing the operating costs. It has marquee customers across 10 diverse sectors such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering, Infrastructure, FMCG, Educational Institutions, IT & Datacenters, Utilities and Government bodies. For further information please visit, https://ampin.energy/

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About Jupiter International Limited

Jupiter International Limited is a prominent player in the solar cell manufacturing industry with over 15 years of experience. The company currently operates a cell manufacturing facility in Himachal Pradesh and is dedicated to providing high-quality solar solutions. It manufactures the best quality and high efficiency photovoltaic solar cells in India. Its cells are considered at par with those from global leaders in the industry. Its state-of-the-art integrated production facility is situated at Baddi, Himachal Pradesh and is currently working at a total capacity of 800 MW. Jupiter International Limited has carved a unique position in the Indian solar industry based on its technical competency, customer centricity and commitment to continuous improvement.