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Parishi Capital Drives Navitas Solar To Become 2.5 Gw Solar Power Leader In India, Next Target Set At 3 GwParishi Capital, an investment firm led by Aryan Shah, has reaffirmed its strong belief in India’s renewable energy future by supporting Navitas Solar through two key funding rounds. With a total investment of $4.7 million—$2.5 million in the first round and $2.2 million in the second—Parishi Capital has played a vital role in helping Navitas Solar grow from a promising start-up into a major player in the country’s green technology sector. Thanks to this backing, Navitas Solar has expanded its manufacturing capacity to 2.5 GW, placing it firmly among the top solar module producers in India.
Parishi Capital has announced plans to invest an additional $10 to $15 million over the next one to two years in India’s renewable energy sector, including in solar power projects and companies focused on solar recycling. The firm’s growing green investment portfolio already includes names like Solnce, Apollo Green, Vikram Solar, BatX Energy, and Zero Circle, demonstrating a broad and forward-looking commitment to sustainability.
This aligns well with India’s wider national mission to transition to clean energy and reduce its dependence on fossil fuels. Over the past decade, India has made major strides in solar power, with installed capacity growing from just 2.82 GW in March 2014 to 107.9 GW by June 2025. Solar tariffs have dropped sharply—by nearly 65%—from ₹6.17/kWh in FY 2014–15 to ₹2.15/kWh in FY 2024–25, making solar one of the most cost-effective energy sources globally.
Aryan Shah, Founder & CEO of Parishi Capital, said in a statement, “Parishi Capital saw the spark in Navitas Solar when few others did. Backing visionary founders is what we do and Navitas’ journey reflects everything we stand for: sustainability, scalability, and sectorial leadership. Our partnership is a testament to what happens when capital meets conviction in the clean tech revolution.”
Vineet Mittal, Co-Founder & Director of Navitas Solar, mentioned, “We are deeply grateful to Parishi Capital, under the leadership of Mr. Aryan Shah, for placing their trust in Navitas at a pivotal stage of our journey. Their early investment empowered us to scale rapidly, and their continued support in subsequent rounds reflects the confidence they have in our vision, execution, and long-term growth potential.”
He continued, “This collaboration is not just financial—it’s foundational. Their belief helped us fast-track our mission of delivering globally competitive solar solutions rooted in Indian innovation, especially at a time when India is laying the groundwork for a net-zero, sustainable economy.”
In FY 2024–25 alone, India added a record 29.52 GW of renewable energy, pushing the total installed capacity to 223.6 GW. This momentum is crucial to achieving the national target of 500 GW of non-fossil fuel energy by 2030. Looking forward, Parishi Capital continues to explore new investment opportunities in solar energy, green hydrogen, and technology-driven climate solutions. The firm’s approach is aligned with India’s ambition to become a global leader in renewable energy while supporting rural development and long-term environmental resilience.
Solar Quarter
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21 July 20253 min readParishi Capital Drives Navitas Solar To Become 2.5 Gw Solar Power Leader In India, Next Target Set At 3 Gw
Solar Quarter
21 July 2025
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Bp Reaches Deal To Divest Us Onshore Wind Assets To Ls Power (1.3 Gw)BP has agreed to sell its US onshore wind business, BP Wind Energy North America, to LS Power, a US-based power and energy infrastructure company. The business includes interests in 10 operating onshore wind assets across seven US states, with BP operating nine of them. These assets have a combined gross generating capacity of 1.7 GW (1.3 GW net to BP). All assets are connected to the grid and are currently supplying power to over 15 off-takers. Following the transaction, BP Wind Energy will become part of LS Power’s portfolio company, Clearlight Energy, expanding its operating fleet to approximately 4.3 GW. The deal is expected to close by the end of 2025, subject to regulatory approvals.
BP put the wind business up for sale in September 2024. The transaction is part of the company’s broader US$20bn divestment program announced in February 2025, aimed at streamlining operations and sharpening its focus on core oil and gas activities. In its Q1 2025 results, BP updated its divestment guidance to US$3–4bn for the year, with US$1.5bn already signed or completed.
ENER Data
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21 July 20251 min readBp Reaches Deal To Divest Us Onshore Wind Assets To Ls Power (1.3 Gw)
ENER Data
21 July 2025
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Georgia Power (Us) Aims To Add 1.1 Gw Of Renewables And 1.5 Gw Of BessNot available
ENER Data
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21 July 20251 min readGeorgia Power (Us) Aims To Add 1.1 Gw Of Renewables And 1.5 Gw Of Bess
ENER Data
21 July 2025
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Parishi Capital Fuels Navitas Solar’S Rise To India’S 2.5 Gw Solar Powerhouse; Eyes 3 Gw Expansion In Next Leap – EqNational, India — In a bold demonstration of conviction in India’s renewable energy future, Parishi Capital, the pioneering investment house led by Aaryan Shah, has successfully backed Navitas Solar through two strategic funding rounds—injecting a total of $4.7 million into the company’s transformation from a rising solar start-up to a national green-tech leader.
With $2.5 million and $2.2 million invested in Navitas Solar’s earlier funding rounds, Parishi Capital’s early and continued support has helped the company scale to an impressive 2.5 GW solar module manufacturing capacity, firmly positioning it among India’s solar elite.
Parishi Capital plans to invest 10-15 million dollars in renewable energy or green power in the next 1-2 years, including solar plant and recycling companies.
Parishi Capital’s green energy and renewables space investments include companies like Navitas, Solnce, Apollo Green, Vikram Solar, BatX Energy, Zero Circle, and others—creating a diverse, future-ready sustainability portfolio.
Talking about the investments, Aaryan Shah, Founder & CEO of Parishi Capital, said, “Parishi Capital saw the spark in Navitas Solar when few others did. Backing visionary founders is what we do and Navitas’ journey reflects everything we stand for: sustainability, scalability, and sectorial leadership. Our partnership is a testament to what happens when capital meets conviction in the clean tech revolution.”
“We are deeply grateful to Parishi Capital, under the leadership of Mr. Aaryan Shah, for placing their trust in Navitas at a pivotal stage of our journey. Their early investment empowered us to scale rapidly, and their continued support in subsequent rounds reflects the confidence they have in our vision, execution, and long-term growth potential,” said Vineet Mittal, Co-Founder & Director of Navitas Solar.He further added, “This collaboration is not just financial—it’s foundational. Their belief helped us fast-track our mission of delivering globally competitive solar solutions rooted in Indian innovation, especially at a time when India is laying the groundwork for a net-zero, sustainable economy.”
India is indeed paving the path toward a sustainable future through bold clean energy initiatives focused on solar power and green hydrogen. These efforts aim to reduce carbon emissions, enhance energy access, and foster rural and economic empowerment. The numbers speak volumes:
India’s solar energy installed capacity rose from 2.82 GW in March 2014 to 107.9 GW as of June 3, 2025.
Solar tariffs have plummeted by 65%, from ₹6.17/kWh in FY 2014–15 to ₹2.15/kWh in FY 2024–25—making them among the lowest in the world.
In FY 2024–25, India added a record 29.52 GW of renewable energy capacity, bringing the total to 223.6 GW, marking strong progress toward the nation’s 500 GW non-fossil fuel target by 2030.
Looking ahead, Parishi Capital is actively exploring additional investments in India’s sustainability and green energy ecosystem, aligning closely with India’s commitment to becoming a global renewable energy superpower. The firm’s focus areas include solar energy, green hydrogen, and technology-led climate solutions aimed at reshaping rural economies and supporting long-term climate resilience.
Founded in 2014, Parishi Capital is a trailblazer in private equity and venture investment, with a focused mandate on powering India’s transition through renewable energy, fintech, and technology-driven infrastructure. Under Aryan Shah’s leadership, the firm empowers purposeful growth through smart capital, strong partnerships, and a sustainable long-term vision.
Navitas Green Solutions Pvt. Ltd. is one of India’s fastest-growing solar module manufacturers. Headquartered in Ahmedabad, Gujarat, the company operates at a 2.5 GW module production capacity with a vision to expand to 3 GW cell manufacturing by 2026. Navitas is leading energy transformation across India, Europe, the U.S., and African markets.
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EQ Mazagine
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21 July 20253 min readParishi Capital Fuels Navitas Solar’S Rise To India’S 2.5 Gw Solar Powerhouse; Eyes 3 Gw Expansion In Next Leap – Eq
EQ Mazagine
21 July 2025
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Massive Solar Push In Up: True Power Launches ₹100 Cr Plant In Barabanki, Generating 1 Gw And JobsIn a landmark stride toward Prime Minister Narendra Modi’s ‘Viksit Bharat’ mission and India’s clean energy transformation, True Power Limited has inaugurated one of Uttar Pradesh’s largest solar panel manufacturing plants. With an investment of ₹100 crore, this ambitious project marks a significant milestone in the state’s industrial and green energy landscape.
The foundation stone and Bhumi Pujan ceremony took place on Sunday, led by Managing Director Shri Hari Om Tiwari and Director Shri Shiv Om Tiwari. The new facility, located in Barabanki district, is designed to manufacture 1 GW of solar panels annually, positioning Uttar Pradesh as a key contributor to India’s sustainable energy goals.
This mega facility is expected to generate hundreds of direct employment opportunities, significantly benefiting the youth of the region and strengthening the local economy. The project is fully aligned with the vision of PM Modi for energy independence and CM Yogi Adityanath’s progressive policies to attract green investments and create a business-friendly ecosystem in Uttar Pradesh.
Speaking at the inauguration, MD Hari Om Tiwari expressed, “PM Modi’s strong push for new energy and CM Yogi’s supportive policies inspired us to invest in this sector and create opportunity not just for the state but for the nation. We are grateful for the continued support from the Uttar Pradesh government which has provided the ideal environment for innovation and industrial growth.”
Founded in 2008, True Power Limited has established itself as a leader in energy solutions with 17 years of excellence. The company operates 26 branch offices and eight manufacturing units, serving clients across India and the Middle East. It is UL-listed, RDSO/CPRI-approved, and ISO-certified, known for cutting-edge work in chemical earthing, lightning protection, and solar technologies.This new plant underscores True Power’s commitment to powering India’s energy future, demonstrating that “True Power” lies in building a self-reliant, sustainable Bharat.
Solar Quarter
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18 July 20252 min readMassive Solar Push In Up: True Power Launches ₹100 Cr Plant In Barabanki, Generating 1 Gw And Jobs
Solar Quarter
18 July 2025
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The Netherlands May Drop Goal To Reach 50 Gw Of Offshore Wind Capacity By 2040Not available
ENER Data
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18 July 20251 min readThe Netherlands May Drop Goal To Reach 50 Gw Of Offshore Wind Capacity By 2040
ENER Data
18 July 2025
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Uk National Grid Selects Sumitomo For 2 Gw Sea Link Hvdc Cable SupplyThe UK power transmission system operator (TSO) National Grid has selected Japan’s Sumitomo Electric Industries as the preferred bidder to supply and install the subsea cable for its 2 GW Sea Link HVDC transmission project in the United Kingdom. The Sea Link project involves a 2 GW HVDC connection that will run through the Thames Estuary and the southern North Sea, linking converter stations located in Kent and Suffolk. The route will be primarily subsea, enhancing the capacity of the UK transmission network and enabling greater flows of renewable and low-carbon electricity to regions where it is most needed.
The cables will be produced at Sumitomo’s new UK manufacturing facility, currently under construction at the Port of Nigg in Scotland. Once completed, this plant will mark the first domestic manufacturing of HVDC cables in the UK in nearly 20 years. This announcement follows the recent appointment of Siemens Energy to deliver the project's converter stations. Sea Link is seeking planning consent and if successful will enter its construction phase, expected to begin in 2027.
ENER Data
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18 July 20251 min readUk National Grid Selects Sumitomo For 2 Gw Sea Link Hvdc Cable Supply
ENER Data
18 July 2025
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Spain Launches First Tender For Access To The Electricity Grid Offering 3.7 GwNot available
ENER Data
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18 July 20251 min readSpain Launches First Tender For Access To The Electricity Grid Offering 3.7 Gw
ENER Data
18 July 2025
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China’S Envision And Italy’S Fera Target 1 Gw Wind And 1.5 Gwh Battery In AustraliaThe Chinese wind turbine manufacturer Envision Energy and the Australian subsidiary of the Italian developer Fera have announced a collaboration agreement to deliver large-scale hybrid renewable energy projects across Australia’s National Electricity Market (NEM). Partners aim to develop up to 1 GW of wind generation capacity alongside 1.5 GWh of battery energy storage. The partnership will commence with a pilot project in Victoria, featuring Envision’s full converter wind turbines, grid-forming battery storage, and advanced High-Power Point Control (HPPC) technology within a grid-connected hybrid plant. This project aims to demonstrate how hybrid systems can improve grid reliability and unlock new value streams.
Australia targets 82% renewable electricity generation by 2030. At the end of 2024, the country had 15.3 GW of installed wind capacity, covering 11% of its power mix.
ENER Data
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18 July 20251 min readChina’S Envision And Italy’S Fera Target 1 Gw Wind And 1.5 Gwh Battery In Australia
ENER Data
18 July 2025
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Spain Launches Call For Access To 3.68 Gw Of Grid CapacityFrom pv magazine Spain
Spain's Ministry for Ecological Transition and the Demographic Challenge (MITECO) has launched its first tender to allocate grid capacity at eight electricity transmission nodes in Andalusia, Aragon, Castilla-La Mancha, Catalonia, Galicia, and the Basque Country.
The total access capacity amounts to 3,681 MW and corresponds to nodes where major industrial developments have submitted requests.
These grid points are oversubscribed with applications from large consumers. Until now, each request was evaluated individually. Due to overloads at some nodes, a competitive process has been introduced. When grid operator Red Eléctrica de España (REE) receives a demand access request for a specific node, it publishes it on its website.
If additional requests are submitted within one month and available capacity is insufficient, the node is assigned to a tender among all interested parties who expressed interest during that period.
Applicants have one month to submit the required documentation. After review, which may include a report from REE, MITECO will resolve each tender within six months of the call. Developers must submit financial guarantees based on three criteria, amounting to €25/kW for each criterion. These guarantees will be returned once compliance is verified.
This is the first time demand access is allocated through a regulated tender using three evaluation criteria. The process marks a shift, giving preference to projects that reduce CO₂ emissions, such as electrifying industrial processes. After this initial criterion, projects will be scored based on investment size and expected commissioning timelines. The criteria include:
Emissions reduction (decarbonization impact)
Planned investment volume
Timeline for consumption start-up
The eligible nodes and available capacity are:
Arrigorriaga (Bizkaia) 400 kV – 993 MW
Brazatortas (Ciudad Real) 400 kV – 1,217 MW
Cristóbal Colón (Huelva) 220 kV – 503 MW
Francolí (Tarragona) 220 kV – 216 MW
Mercedes Benz (Vitoria) 220 kV – 387 MW
New Vigo 220 kV – 182 MW
Palos (Huelva) 220 kV – 277 MW
Terrer (Zaragoza) 400 kV – 410 MW
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
PV Magazine
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18 July 20252 min readSpain Launches Call For Access To 3.68 Gw Of Grid Capacity
PV Magazine
18 July 2025
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Chinese Pv Industry Brief: Zhejiang Bangjie Drops 18 Gw Factory PlanZhejiang Bangjie Holding Group has announced the termination of its large-scale PV manufacturing project in the Jiangshan Economic Development Zone, citing changes in the solar market environment. The project, launched in 2023, was planned to include annual production of 16 GW of high-efficiency n-type solar cells and 16 GW of large-size silicon wafer slicing capacity. The total planned investment stood at CNY 8 billion ($1.10 billion), with the first phase accounting for CNY 6 billion and the second for CNY 2 billion. Under an agreement with local authorities, the company will pay CNY 15 million in compensation to the local government to address the impact of the cancellation.
Arctech Solar has signed a deal with Shanghai Electric for the Sadawi solar project in eastern Saudi Arabia, with a planned capacity of 2.3 GW over a 40 square km desert site. The project will exclusively deploy Arctech’s Skyline II tracker system, engineered to withstand wind speeds of up to 55 m/s and integrate with high-efficiency bifacial modules and robotic cleaning systems. Arctech expects the project to generate more than 6 TWh of clean electricity per year, or enough to power over 700,000 households.
The China Nonferrous Metals Industry Association said six manufacturers signed new polysilicon orders this week. N-type reprocessed polysilicon traded at CNY 40,000 to CNY 48,000 per ton, with an average price of CNY 41,700, up 12.4% from last week. N-type granular polysilicon rose 15.17% to an average of CNY 41,000 per ton. With domestic monthly demand around 110,000 metric tons and August production expected to match, the industry faces no immediate inventory pressure. The association expects prices to stabilize as downstream supply-demand conditions improve. It also recorded sharp increases in wafer prices across all major specifications. N-type G10L wafers (182×183.75mm, 130μm) surged 22.09% to CNY 1.05 per piece. N-type G12R wafers (182 mm × 210 mm, 130 μm) rose 15.00% to CNY 1.15, while G12 wafers (210 mm ×210 mm, 130 μm) climbed 13.45% to CNY 1.35. Analysts linked the gains to upstream silicon price hikes and easing oversupply concerns. Prices are now beginning to transmit downstream, with several cell and module manufacturers reportedly preparing to raise their prices.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
PV Magazine
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18 July 20252 min readChinese Pv Industry Brief: Zhejiang Bangjie Drops 18 Gw Factory Plan
PV Magazine
18 July 2025
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Germany Deploys 7.1 Gw Of Solar In H1From pv magazine Germany
Germany deployed approximately 905 MW of new PV capacity in June, according to Bundesnetzagentur. The total fell from 1,146 MW in May and 1,449 MW in June 2024.
Rooftop systems accounted for 439 MW of the new capacity installed in June, while ground-mounted projects contributed 319 MW. The remainder came from other system types.
During the first half of 2025, cumulative PV installations reached around 7.1 GW, down from roughly 8 GW in the same period last year.
More than 3.23 GW was connected to the grid in January and February, prior to the implementation of the “Solar Peak Act.” The legislation, in force since March, eliminates compensation for PV system operators during hours of negative spot market electricity prices. There were 389 such hours in the first half of 2025.
Germany’s total installed PV capacity now stands at 107.37 GW.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
PV Magazine
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18 July 20251 min readGermany Deploys 7.1 Gw Of Solar In H1
PV Magazine
18 July 2025
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