Havells India Limited has acquired a 26 per cent stake in Kundan Solar (Pali) Private Limited for Rs 56.3 million.
The investment will support the development of a 15 MWac solar power plant in Rajasthan and marks a strategic move in Havells’ clean energy transition. The equity will be infused in multiple tranches linked to project milestones, with completion expected by June 30, 2026. Havells will also enter into a 25-year power purchase agreement upon commissioning. The arrangement qualifies Havells as a captive consumer under electricity regulations and is expected to result in lower power costs at its Rajasthan facilities, with a payback period of 12–18 months post-commissioning.