Massive Solar Push In Up: True Power Launches ₹100 Cr Plant In Barabanki, Generating 1 Gw And Jobs

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. Error:Contact form not found.

EQ Mazagine

powerplant

21 July 2025

3 min read

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Massive Solar Push In Up: True Power Launches ₹100 Cr Plant In Barabanki, Generating 1 Gw And Jobs

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