In a significant advancement for India’s renewable energy sector, Juniper Green Energy has successfully commissioned its 217 megawatt peak (MWp) solar photovoltaic project in Chapalgaon, Maharashtra. This substantial utility-scale facility became operational a remarkable 18 months ahead of its scheduled timeline, with the final phase of 71 MWp being commissioned on June 23, 2025. The first phase, comprising 145.99 MWp, was brought online on May 22, 2025, marking a rapid progression in the project’s development.
Juniper Green Energy operates the Chapalgaon project through its wholly owned subsidiary, Juniper Green Ray Two Private Limited. The subsidiary has secured a power purchase agreement with the Maharashtra State Electricity Distribution Company Limited (MSEDCL). CEO Ankush Malik emphasized the importance of this achievement, stating, “This early delivery is not just about our engineering and operations but our long-term commitment to India’s renewable energy journey.” He highlighted the project as evidence of the company’s capability to contribute positively to the nation’s energy landscape.
Financial Impact and Strategic Advantages
While specific financial details remain undisclosed, industry analysts estimate that solar projects of this magnitude typically require an investment between INR 900 crore and INR 1,100 crore, influenced by factors such as land, technology, and transmission costs. The early commissioning of the Chapalgaon facility positions Juniper Green Energy to take advantage of government-supported transmission waivers and incentives designed for renewable projects that begin operations ahead of schedule.
Completing the project ahead of its original commercial operation date enhances the company’s potential for returns on investment and expedites cash flow, mitigating the risk of inflationary cost increases.
Juniper Green Energy has also filed for an initial public offering (IPO) valued at INR 3,000 crore with the Securities and Exchange Board of India (SEBI). The proceeds from this IPO will be allocated to debt repayment and subsidiary support, with estimates indicating a revenue of INR 351.59 crore and an EBITDA of INR 329.17 crore in the first nine months of fiscal year 2025. The company boasts a renewable energy portfolio of 7,898.45 MW, with over 97% of its capacity backed by power purchase agreements.
Expanding Operations and Future Goals
Since its establishment in October 2018, Juniper Green Energy has headquartered in Delhi-NCR and has operational renewable energy capacity of 1.45 GWp. The company aims to expand its portfolio to 10 GW by 2030. To facilitate this growth, Juniper has recently entered into two significant technology supply agreements. The first, with Chinese manufacturer Sungrow, involves an 835 MW inverter supply agreement tailored for India’s challenging climate. The second agreement, signed with First Solar in December 2024, includes a 1 GW module procurement for the next two years.
In addition to expanding its capacity, Juniper Green Energy has ventured into merchant solar power, recently commissioning a 100 MW project in Rajasthan aimed at supplying power to Bhutan. This initiative diversifies Bhutan’s energy portfolio, which has been heavily reliant on hydroelectric power. Earlier in 2025, the company also completed a 59 MWp solar portion of a hybrid project in Karanja, Wardha District, ahead of its scheduled operational date.
The rapid development of the Chapalgaon project underscores the potential for private sector players to deliver large-scale renewable infrastructure efficiently. It reflects the maturing solar supply chain in India, bolstered by strategic vendor partnerships and supportive government initiatives. As India progresses towards its 2030 clean energy targets, which include achieving 500 GW of non-fossil fuel capacity, Juniper Green Energy’s achievements highlight the crucial role of execution in the evolving energy landscape.
