Kundan Green Energy has partnered with Havells India to develop a Rs 725 million captive solar power project in Rajasthan through a special purpose vehicle (SPV), Kundan Solar (Pali) Private Limited.
Under the agreement, Havells will hold a 26 per cent equity stake in the SPV which will oversee the design, development, installation, and operation of a 21.43 MWp/15 MWAC solar plant. The total investment will be infused in phases based on key development milestones with full project completion targeted by May 31, 2026.