Navitas Secures USD 20 Million Growth Capital from responsAbility, Plans 2.2 GW Solar Cell Facility
Navitas Solar has secured up to USD 20 million in growth capital from responsAbility to support the development of a planned 2.2 GW solar cell manufacturing facility in India.
October 22, 2026. By Mrinmoy Dey
The investment, made on behalf of responsAbility’s investors, is part of its Asia Climate Fund, which targets private-sector solutions that deliver measurable carbon dioxide emission reductions and positive societal impact in high-growth markets.
Navitas operates across solar module manufacturing, encapsulant manufacturing, engineering, procurement and construction (EPC) services, battery energy storage systems (BESS) and renewable power generation. Its planned entry into solar cell manufacturing is aimed at strengthening backward integration, increasing domestic value addition and improving its competitiveness across the solar value chain.
The company also plans to expand into wafer and ingot manufacturing as part of its longer-term backward integration strategy. The expansion comes amid India's efforts to strengthen domestic renewable energy manufacturing and reduce dependence on imported solar components.
Mumbai-based Centrum Capital’s Infrastructure Advisory arm acted as the exclusive financial advisor to Navitas for the transaction.
Commenting on the investment, Vineet Mittal, Director, Navitas Solar, said, “We are pleased to welcome responsAbility as an institutional partner in the next phase of Navitas’s journey. Their investment is important not only as growth capital, but also because of the strong alignment between our long-term objectives. Our backward integration into solar cells will strengthen domestic supply chains and can create greater value addition within India. Our work in high-efficiency TOPCon technology and our partnership with Caelux on Perovskite-TOPCon Hybrid Tandem modules reflect our ambition to build advanced technologies that can compete globally. We see this partnership with responsAbility as an important step towards realising that ambition responsibly and sustainably.”
Vijay Menon, COO, Navitas Solar, said, “As Navitas scales, we want to build an organisation that is not measured only by capacity, revenue or profitability, but also by how responsibly and sustainably that growth is achieved. Strong governance, environmental stewardship, responsible employment practices and a positive contribution to the communities and ecosystem around us will remain integral to building Navitas as a long-term institution. Securing funding from responsAbility is a validation of the hard work done so far and demonstrates our commitment to continued excellence and improvement.”
Kartik Jain, Head – Finance, Navitas Solar, said, “Securing funding from ResponsAbility is an important milestone for Navitas as we continue to strengthen our financial foundation and accelerate our growth journey. This partnership reflects the confidence of a leading climate-focused investor in our business fundamentals, our execution capabilities, financial strategy, and the long-term growth potential of India’s solar manufacturing ecosystem. This funding will enhance our financial flexibility and support our efforts to scale operations, strengthen our capabilities and contribute to India’s clean energy transition.”
Jay Bathija, Principal, Climate Infrastructure Investments at responsAbility, said, “Navitas has established a strong track record in solar module manufacturing. Its expansion into cell manufacturing is a natural next step that will deepen integration across the solar value chain and can strengthen its long-term competitiveness. We are pleased to partner with Navitas as it aims to contribute to India’s clean energy and domestic manufacturing ambition.”
please contact: contact@energetica-india.net.
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