Juniper Green Energy said on Wednesday that AT Capital Group, and oil trading giant Vitol have invested $350 million, or roughly Rs. 2,900 crore, in the renewable energy independent power producer (IPP).

“The increase in investment to $350 million comes nearly two years after the initial commitment of $200 million from AT Capital Group and Vitol, demonstrating their unwavering confidence in Juniper Green Energy’s growth trajectory and capabilities,” the company said.

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Juniper Green Energy has solidified its position as a key player in the Indian Renewable Energy (RE) sector, boasting an operational portfolio of nearly 800 megawatts (MW) with an under-construction capacity of 435 MW and a development pipeline of more than 3 GW across solar, wind and hybrid power projects, it added.

This increased investment from AT Capital Group and Vitol will play a pivotal role as Juniper Green Energy targets to triple its operational capacity to 2.5 GW by 2026 and forge ahead with its ambitious development plans.

The decision to increase the investment is rooted in Juniper Green Energy’s exceptional performance and its ability to consistently deliver value to stakeholders.

The company’s comprehensive end-to-end internal competencies in Engineering, Procurement and Construction (EPC) and Operations and Maintenance (O&M) services set it apart in the industry. These in-house competencies ensure the seamless execution and long-term success of its renewable projects, bolstering investor confidence.

Delhi NCR-based Juniper commenced operations in October 2018. It has end-to-end internal competencies in EPC and O&M services for its renewable projects.