Navitas Green Solutions (Navitas Solar) is an Indian module manufacturer that produces polysilicon and mono Passivated Emitter and Rear Contact (PERC) solar modules. It currently has a manufacturing capacity of 500MW per year and assembles modules ranging from 5 watts to 600 watts. The company has raised US$5 million to fund an immediate capacity expansion, targeting an additional 1.2GW to bring annual capacity to 1.7GW. A subsequent phase targets reaching 3GW of annual module capacity. Lead investors in the round include Parishi Diamond Group (anchor with more than 50%), Lemon Emerging Ventures, and other high‑net‑worth individuals. Navitas is listed on India’s Approved List of Models and Manufacturers (ALMM), and management says the funding will help meet growing demand and develop more efficient, reliable modules.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

May 2023