In a significant boost to India’s clean energy ambitions, Parishi Capital, the forward-looking investment firm helmed by Aryan Shah, has played a pivotal role in propelling Navitas Solar from a promising start-up to one of India’s leading solar powerhouses. With a total infusion of $4.7 million across two funding rounds, Parishi Capital’s early and sustained backing has been instrumental in helping Navitas Solar scale up to a formidable 2.5 GW solar module manufacturing capacity.
The investments of $2.5 million in the initial round and an additional $2.2 million in the subsequent round have reinforced Navitas Solar’s rapid growth trajectory, firmly positioning it among India’s top-tier solar companies.
Looking to the future, Parishi Capital is set to deepen its commitment to India’s green energy transition. The firm plans to invest an additional $10-15 million in the next 1-2 years, targeting emerging opportunities in solar plants, recycling technologies, and other renewable energy ventures.
Parishi Capital has already built a robust sustainability portfolio with investments in companies such as Navitas Solar, Solnce, Apollo Green, Vikram Solar, BatX Energy, Zero Circle and others underscoring its strategy of supporting scalable, future-ready green technologies.
Commenting on the investment success, Aryan Shah, Founder & CEO of 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 sectoral leadership. Our partnership is a testament to what happens when capital meets conviction in the clean tech revolution.”
Vineet Mittal, Co-Founder and Director of Navitas Solar, expressed deep appreciation for the partnership, stating: “We are deeply grateful to Parishi Capital, under the leadership of Aryan 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. This collaboration is not just financial, it’s foundational.”
India is witnessing unprecedented momentum in renewable energy adoption. The country’s solar energy installed capacity surged from 2.82 GW in March 2014 to 107.9 GW by June 2025. Solar tariffs have seen a dramatic decline of 65%, falling from ₹6.17/kWh in FY 2014–15 to ₹2.15/kWh in FY 2024–25 placing India among the world’s most cost-competitive solar markets.
In the financial year 2024–25 alone, India added a record-breaking 29.52 GW of renewable energy capacity, bringing the cumulative figure to 223.6 GW. This progress marks a significant stride towards the national goal of 500 GW of non-fossil fuel capacity by 2030.
With India rapidly emerging as a global renewable energy leader, Parishi Capital is poised to play a vital role in fuelling this green revolution. Its upcoming investments will focus on solar power, green hydrogen, and tech-driven climate solutions, with a particular emphasis on driving rural economic transformation and long-term climate resilience.
