Parishi Capital Fuels Navitas Solar’s Rise to India’s 2.5 GW Solar Powerhouse, Eyes 3 GW Expansion in Next Leap

New Delhi, July 21, 2025: In a bold demonstration of conviction in India’s renewable energy future, Parishi Capital, the pioneering investment house led by Aaryan Shah, has 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 in renewable energy or green power in the next one to two years, including solar plant and recycling companies.

Parishi Capital’s green energy and renewables space investmentsinclude companies like Navitas, Solnce, Apollo Green, Vikram Solar, BatX Energy, Zero Circle and others—creating a diverse, future-ready sustainability portfolio.

Aaryan Shah, Founder and CEO,  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.”

Vineet Mittal, Co-founder and Director, Navitas Solar, said, “We are deeply grateful to Parishi Capital, under the leadership of 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.”

He 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.
• Solar tariffs have plummeted by 65 per cent from INR 6.17/kWh in FY 2014–15 to INR 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 investment 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.