Havells India has received approval for acquiring a stake of 26% in Kundan Solar (Pali), a Special Purpose Vehicle (SPV), established for the business of developing, installing, operating, managing and maintaining solar power plant. The purpose of this transaction is to strategically reduce dependence on fossil fuel and move towards green energy. Kundan Solar will set up a 15 MWac solar power plant and Havells plan to enter into a long-term Power Purchase Agreement (PPA) up to 25 years. Under the Electricity Laws, Havells is required to hold a minimum of 26% shareholding to qualify as a captive consumer. 

The arrangement will result in savings in power cost at plant locations in Rajasthan with payback within around 12-18 months from date of commissioning of the project. Investment is planned in multiple tranches linked to project milestones and is expected to be completed by June 30, 2026. Cost of acquisition is Rs 5.63 crore. The Executive Committee of the Board of Directors of the Company, in its meeting held on November 26, 2025, has approved the same. 

Havells India is a leading FMEG company (Fast moving electrical goods) with presence across India. Its product range includes Industrial & Domestic Circuit Protection Switchgear, Cables& Wires, Motors, Fans, Power Capacitors, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches etc.