Navitas Solar secures up to $20M from responsAbility
Navitas Solar has secured growth capital of up to $20 million, around ₹190 crore, from Switzerland-based responsAbility. The money comes from responsAbility's Asia Climate Fund, which the manager invests on behalf of its investors.
Navitas is an integrated renewable energy company. Its businesses span solar modules, encapsulant manufacturing, engineering, procurement and construction services, battery energy storage systems and renewable power generation.
responsAbility is a Swiss impact asset manager that provides debt and equity financing to financial institutions, enterprises and mid-market funds. It manages $5.8 billion in assets as of 30 September 2026.
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The Asia Climate Fund provides private credit to companies in renewable energy, electric mobility, energy efficiency and other climate-related infrastructure. Navitas says the fund targets scalable private-sector solutions that deliver measurable carbon dioxide reductions in high-growth markets.
The capital is meant to fund Navitas' growth plans, including a planned 2.2 GW solar cell manufacturing facility in India. The project is part of the company's broader strategy to build a more integrated clean-energy manufacturing platform.
Vijay Menon, Chief Operating Officer at Navitas Solar, said: "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."
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