• Chanakya Opportunities Fund I leads pre-IPO funding in Tesla Power, backing renewable energy startups.
• Investment helps Tesla Power expand manufacturing and supply chain for growing clean energy demand.
• Funding supports India’s goal to boost solar and wind energy capacity to nearly 52% by 2032.

Chanakya Opportunities Fund I, managed by Steptrade Capital, has led Rs 25 crore pre-IPO funding round for Tesla Power Equipments and Projects Limited (TPEPL). This investment highlights the growing focus on renewable energy startups, expansion of manufacturing capacity, and India's clean energy future.

Chanakya Opportunities Fund I, Steptrade Capital’s first Category II Alternative Investment Fund (AIF), targets promising sectors such as renewable energy, power, infrastructure, and waste management. With this recent investment, the fund has deployed over Rs 55 crore in private companies, reaffirming its commitment to supporting startups driving India’s green energy transition.

Tesla Power, founded in 2004 by Jaideep Jain, specializes in manufacturing transformers critical for solar and wind power projects. Operating from its advanced plants in Bhopal and Mandideep with a combined capacity of 8,000 MVA, the company serves major clients like Adani Green, Tata, and NTPC. Tesla Power focuses on inverter duty transformers (IDTs) essential for renewable energy integration.

The fresh capital will enable Tesla Power to boost production and strengthen its supply chain as India pushes to increase renewable energy capacity. Industry projections estimate solar and wind power could grow from 34% of India’s installed capacity in 2025 to nearly 52% by 2032, driving sustained demand for equipment like transformers.

Also Read: PayU Plans $300 Million Fundraise Ahead of IPO

CA Kresha Gupta, Director and Fund Manager at Steptrade Capital, expressed confidence that this investment will generate value for investors and contribute significantly to India’s renewable energy goals.

This funding round not only supports a promising startup but also aligns with India’s broader vision of a cleaner, more sustainable energy future.