Kolkata: Jupiter International, a solar cell producer, is establishing an ingot-wafer manufacturing facility in Nagpur, investing ₹3,000 crore. Construction has already begun, and the plant is anticipated to become fully operational in phases over the next 20 months, according to CEO Dhruv Sharma.

Currently, Jupiter imports wafers, which are thin slices of crystalline silicon serving as the essential semiconductor base for photovoltaic solar cells, from China. “The proposed plant will have an annual capacity of 3 GW,” stated Sharma.

Since its inception in 2009, the company has been engaged in solar cell production and aims to reach a revenue of ₹3,200 crore in this fiscal year. With five manufacturing units—four located in Himachal Pradesh and one in Odisha—its production capacity has expanded to 4.5 GW from an initial 30 MW. The Himachal Pradesh facility was established last year with an investment of ₹550 crore.

Sharma also mentioned that, in light of the Pradhan Mantri Surya Ghar Muft Bijli Yojana, the company intends to collaborate with local module manufacturers to fulfill the increasing demand for domestic solar modules in Bengal. “We will assess the upcoming industrial policy, after which we will seriously consider our future expansion in Bengal,” he added.

Regarding the company’s plans for an IPO, Sharma indicated that Jupiter is targeting a market entry in the first quarter of 2027. However, he emphasized that discussions are still ongoing, and the plans are expected to be finalized in the coming months.