Latest news with #JupiterRenewables
Time of India
26-05-2025
- Business
- Time of India
Andhra Pradesh leads solar manufacturing push, Jupiter plans ₹2,700 cr facility
Jupiter Renewables will invest ₹2,700 crore to set up a solar cell manufacturing plant in Andhra Pradesh, becoming the third company to establish operations in the state, which is rapidly positioning itself as a leader in solar module and cell production. Jupiter Renewables, a subsidiary of Kolkata-based Jupiter International, plans to set up a 4.8 gigawatt (GW) solar photovoltaic (PV) cell and 1.5 GW module manufacturing facility at Rambilli in Anakapalli district, with an investment of ₹2,700 crore, according to state government's Industries & Commerce Department order approving the investment. The project will be set up in two phases (Phase-1 ₹1,504 crore and Phase-2 ₹1,196 crore), which has an employment generation potential of 2,216 persons, the order said. Phase-1 comprising 2.4 GW solar PV cell and 1.5 GW solar PV module manufacturing is to be commissioned by March 2026 and Phase-2 of 2.4 GW solar cell facility will come up by July 2026, it said. Jupiter is the third company to set up a solar manufacturing base in the state, which is now challenging established leaders like Gujarat, Rajasthan, and Tamil Nadu in the arena. Since the N. Chandrababu Naidu government came to power last year, the state has witnessed a surge in investments in the renewable energy sector. Previously, Indosol had won a nod for a ₹69,000 crore investment into a vertically integrated solar PV manufacturing unit. Premier Energies is also investing in the state in two phases - first phase of 5 GW ingot and solar wafer manufacturing with an investment of ₹1,742 crores, and the second phase is 8 GW solar cell manufacturing with ₹4,200 crore investment. Industry sources said discussions are in progress with other leading solar manufacturers as well. This move aligns with the state's ambitious plans to become a renewable energy hub, aiming to attract investments worth ₹10 lakh crore and create approximately 7.5 lakh jobs in the clean energy sector. India is introducing non-tariff barriers (NTBs) to strengthen domestic solar manufacturing, particularly targeting imports from China. Key measures include mandating the use of locally made solar cells in government projects starting June 2026 and enforcing the Approved List of Models and Manufacturers (ALMM). These steps aim to expand local capacity, reduce geopolitical dependence, and enhance export potential. Andhra Pradesh is taking advantage of this upcoming import barrier and ramping up incentives for solar cell manufacturers. The order approving Jupiter's investment said the state government has extended a certain special package of incentives to the company. These include in-principal approval for allotment of 142 acres of land (Phase-1: 87 acres and Phase-2: 55 acres), at a concessional rate of ₹50 lakh per acre. Also approved were grants of tailor-made incentives to be disbursed over 10 years. These include 50 per cent capital subsidy on building cost, plant and machinery cost, limited to ₹1,096.98 crore, decarbonization subsidy @50 per cent with a cap of ₹118.18 crore, reimbursement of 100 per cent of stamp duty on purchase of land and land conversion charges, and reimbursement of power tariff at ₹1 per unit for 10 years from Date of Commercial Production, limited to ₹341 crore, the order added.
Time of India
26-05-2025
- Business
- Time of India
Andhra Pradesh leads solar manufacturing push, Jupiter plans Rs 2,700 cr facility
Jupiter Renewables will invest Rs 2,700 crore to set up a solar cell manufacturing plant in Andhra Pradesh, becoming the third company to establish operations in the state, which is rapidly positioning itself as a leader in solar module and cell production. Jupiter Renewables, a subsidiary of Kolkata-based Jupiter International, plans to set up a 4.8 gigawatt (GW) solar photovoltaic (PV) cell and 1.5 GW module manufacturing facility at Rambilli in Anakapalli district, with an investment of Rs 2,700 crore, according to state government's Industries & Commerce Department order approving the investment. The project will be set up in two phases (Phase-1 Rs 1,504 crore and Phase-2 Rs 1,196 crore), which has an employment generation potential of 2,216 persons, the order said. Phase-1 comprising 2.4 GW solar PV cell and 1.5 GW solar PV module manufacturing is to be commissioned by March 2026 and Phase-2 of 2.4 GW solar cell facility will come up by July 2026, it said. Ads By Google Ad will close in 30 Skip ad in 5 Skip Ad by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Incredible: The world's toughest smartwatch designed for the military Indestructible Smartwatch Undo Jupiter is the third company to set up a solar manufacturing base in the state, which is now challenging established leaders like Gujarat, Rajasthan, and Tamil Nadu in the arena. Since the N. Chandrababu Naidu government came to power last year, the state has witnessed a surge in investments in the renewable energy sector. Live Events Previously, Indosol had won a nod for a Rs 69,000 crore investment into a vertically integrated solar PV manufacturing unit. Premier Energies is also investing in the state in two phases - first phase of 5 GW ingot and solar wafer manufacturing with an investment of Rs 1,742 crores, and the second phase is 8 GW solar cell manufacturing with Rs 4,200 crore investment. Industry sources said discussions are in progress with other leading solar manufacturers as well. This move aligns with the state's ambitious plans to become a renewable energy hub, aiming to attract investments worth Rs 10 lakh crore and create approximately 7.5 lakh jobs in the clean energy sector. India is introducing non-tariff barriers (NTBs) to strengthen domestic solar manufacturing, particularly targeting imports from China. Key measures include mandating the use of locally made solar cells in government projects starting June 2026 and enforcing the Approved List of Models and Manufacturers (ALMM). These steps aim to expand local capacity, reduce geopolitical dependence, and enhance export potential. Andhra Pradesh is taking advantage of this upcoming import barrier and ramping up incentives for solar cell manufacturers. The order approving Jupiter's investment said the state government has extended a certain special package of incentives to the company. These include in-principal approval for allotment of 142 acres of land (Phase-1: 87 acres and Phase-2: 55 acres), at a concessional rate of Rs 50 lakh per acre. Also approved were grants of tailor-made incentives to be disbursed over 10 years. These include 50 per cent capital subsidy on building cost, plant and machinery cost, limited to Rs 1,096.98 crore, decarbonization subsidy @50 per cent with a cap of Rs 118.18 crore, reimbursement of 100 per cent of stamp duty on purchase of land and land conversion charges, and reimbursement of power tariff at Rs 1 per unit for 10 years from Date of Commercial Production, limited to Rs 341 crore, the order added.
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Business Standard
25-05-2025
- Business
- Business Standard
With Jupiter in its orbit, Andhra Pradesh emerges as India's solar hub
Andhra Pradesh is emerging as a key hub for solar module and cell manufacturing in India, challenging established leaders like Gujarat, Rajasthan, and Tamil Nadu. Since the Nara Chandrababu Naidu government assumed office last year, the state has witnessed a surge in investments in this sector. The latest entrant this month is Kolkata-based Jupiter International, which plans to set up a 4.8 Gw (gigawatt) solar photovoltaic (PV) cell and 1.5 Gw module manufacturing facility at Rambili in Anakapalli district, with an investment of ₹2,700 crore. The investment is being made through its subsidiary, Jupiter Renewables. Additionally, the state is trying to rope in major players such as Waaree Energies, Tata Power Solar, and Vikram Solar, sources said. Other recent significant investments include a ₹69,000 crore project by Indosol Solar and Premier Energies. In March this year Premier Energies, India's second-largest fully integrated solar cell and module manufacturer, announced plans to shift its cell manufacturing unit from Telangana to Naidupeta Industrial Park in Nellore district. State government officials said that Premier Energies, in the first phase, will come up with a 5 Gw ingot and solar wafer manufacturing unit with an investment of ₹1,742 crore, followed by a second phase of 8 Gw solar cell manufacturing with ₹4,200 crore in investments. 'The latest entrant is Jupiter Renewables, which is establishing a 4.8 Gw solar PV cell and 1.5 Gw solar module manufacturing facility at Rambili. This will be done in two phases, with ₹1,504 crore in Phase 1 and ₹1,196 crore in Phase 2,' a government source said. The company did not respond to questions from Business Standard. Both phases are expected to be completed by July 2026. Industry sources indicate that tailor-made incentives and other facilitations under the AP Industrial Development Policy 2024–29 are helping the state attract solar manufacturing players. Jupiter submitted the proposal in March this year, and last Friday, the State Investment Promotion Board approved the project, extending a special package. The state has already cleared decks for allocating 142 acres at a concessional rate of ₹50 lakh per acre to Jupiter, sources said. They also indicate the company had sought tailor-made incentives of up to 78.48 per cent of total fixed capital investment on a project outlay of ₹2,700 crore, which will be disbursed over 10 years. The project is expected to create direct employment for over 2,000 people.
