In a significant milestone for India’s clean energy transition, Juniper Green Energy has fully commissioned its 217 megawatt peak (MWp) solar photovoltaic (PV) project in Chapalgaon, Maharashtra. This ambitious utility-scale facility went live a staggering 18 months ahead of its scheduled timeline.
The 71 MWp last phase was commissioned on 23 June 2025. The project is a two-phase project. The first phase of 145.99 MWp was commissioned on 22 May 2025. Full capacity was achieved in just 4 months of PPA signing, which is a rare feat in the Indian renewable space.
Smooth Operations, Big Numbers
The Chapalgaon project is being operated through Juniper Green Energy’s wholly owned subsidiary, Juniper Green Ray Two Private Limited, which has signed a power purchase agreement with Maharashtra State Electricity Distribution (MSEDCL).
“This early delivery is not just about our engineering and operations but our long term commitment to India’s renewable energy journey,” said Ankush Malik, CEO of Juniper Green Energy. “It’s a proof of our ability to deliver ahead of schedule and make a meaningful contribution to the country’s energy needs.”
As the Juniper Green commissions 217 MWp solar project, this will feed into the state grid, into Maharashtra’s renewable energy mix and directly into India’s decarbonisation.
Financial and Strategic Implications
Though the financials of the project are not disclosed, industry estimates suggest solar projects of this size are invested around INR 900-1,100 crore, depending on land, technology and transmission costs. The Chapalgaon plant’s early commissioning will enable Juniper Green Energy to benefit from government-backed transmission waivers and other incentives for early commissioned renewable projects.
Moreover, by completing the project ahead of its original commercial operation date, the company ensures better returns on investment and quicker operational cash flows, while also avoiding inflationary cost escalations.
Juniper Green Energy IPO
Juniper Green Energy has filed an INR 3,000 crore IPO with SEBI through a 100% fresh issue. Proceeds include INR 1,092.27 crore for debt repayment and INR 1,157.73 crore for subsidiaries. With a 7,898.45 MW renewable portfolio and 97.64% PPA-backed capacity, it posted INR 351.59 crore revenue and INR 329.17 crore EBITDA in 9M FY25. Backed by AT Holdings, it boasts 99.3% grid availability and promoter investment of INR 3,282.5 crore.
Scaling Up Operations and Supply Chain
Since October 2018, Juniper Green Energy has been headquartered in Delhi-NCR and has an operational renewable energy capacity of 1.45 GWp with a target to reach 10 GW by 2030. The company is developing a pipeline of utility-scale solar, wind and hybrid projects in Rajasthan, Gujarat and Maharashtra.
To support this expansion, Juniper recently inked two major technology supply agreements:
- An 835 MW inverter supply agreement with Chinese manufacturer Sungrow, involving SG320HX-20 string and SG4400UD-20 central inverters, is designed for high performance in India’s extreme climate conditions.
- A 1 GW module procurement deal with US-based First Solar, signed in December 2024. Under the two-year agreement, Juniper will receive Series 7 FT1 thin-film modules manufactured at First Solar’s 3.3 GW facility in India.
Expanding Footprint Beyond Maharashtra
In parallel, the company has ventured into merchant solar power. Recently commissioned a 100 MW project in Rajasthan to supply power to Bhutan to diversify Bhutan’s heavily hydro power-dependent energy mix. Earlier in 2025, Juniper commissioned the solar portion (59 MWp/42 MW) of its hybrid project in Karanja (Ghadge), Wardha district, well ahead of its scheduled commercial operation date.
This consistent early delivery of complex projects across geographies not only showcases the company’s executional discipline but also puts it among the top independent power producers (IPPs) in the Indian clean energy space.
A Record for Rapid Energy Transition
The Chapalgaon project shows private sector players can deliver large-scale renewable infrastructure in record time. It also shows India’s solar supply chain is maturing with strategic vendor partnerships and government support.
As India heads towards its 2030 clean energy targets — including 500 GW of non-fossil fuel capacity — Juniper Green Energy’s latest achievement is a reminder that execution will be the key differentiator in this next phase of the energy transition.
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