New PV factory in Maharashtra: Indian solar PV manufacturer Jupiter International Limited has signed a memorandum of understanding (MoU) with the State Government of Maharashtra to establish a vertically integrated solar PV manufacturing factory in Butibori, Nagpur. The INR 109 billion ($1.25 billion) investment will cover wafer, cell, and module manufacturing capacity, generating over 8,300 employment opportunities. The company currently operates 2 factories in Baddi, Himachal Pradesh, with 500 MW capacity each. Earlier this year, it announced a broader expansion plan to achieve 3 GW wafer, 9.4 GW solar cell, and 6 GW module capacity over the next 3 years (see Jupiter International Announces INR 65 Billion Solar Manufacturing Expansion).
Avaada Group has also zeroed down on Butibori for its ingot-wafer-cell-module factory (see Avaada Announces Ingot To Module Project In Maharashtra).
IPO oversubscribed: Indian solar PV module manufacturer Vikram Solar’s initial public offering (IPO) has been oversubscribed by more than 54 times, as per local media reports. The company offered 45 million shares with a price range of INR 315 to INR 332 ($3.6 to $3.79); instead, it saw bids coming in for 2.47 billion. Before the IPO was launched, it raised INR 6.21 billion ($71 million) from anchor investors. The company plans to deploy the proceeds for its subsidiary VSL Green Power Pvt. Ltd. for phase I and II projects.
390 MW solar and storage project: Reliance Infrastructure Limited has received a letter of award (LOA) from NHPC for a 390 MW inter-state transmission system (ISTS)-connected solar and storage project. It won the contract for a winning tariff of INR 3.13/kWh in an oversubscribed tender. Once commissioned, the project will add 700 MW DC of solar and 780 MWh of battery energy storage system (BESS) capacity to the company’s portfolio.
New transformers factory: GameChange BOS has opened a 180,000 sq. ft. factory in Taloja, Maharashtra, to produce over 1,800 medium-voltage transformers annually. The facility will support 0.5-25 MVA products with up to 69 kV ratings for sectors like renewables, BESS, and data centers, aligning with India’s Make in India initiative and global electrification needs. The company said it will boost India’s domestic manufacturing capabilities and reduce import dependencies. It will target the key markets of India, Europe, and the US. GameChange BOS is a division of GameChange Energy Technologies, which is the parent company of US-based utility-scale solar tracker firm GameChange Solar.