- Kundan Green Energy partnered with Havells India on a 21.43/15 MW captive solar project in Rajasthan.
- Havells will hold a 26% stake and use the project as a captive consumer through the SPV.
Kundan Solar (Pali) Pvt. Ltd., a subsidiary of Kundan Green Energy, has announced a strategic partnership with Havells India Ltd. The company will offer Havells a 26% equity stake in the 21.43/15 MW captive solar project in Rajasthan. This collaboration marks a significant milestone in Kundan Green Energy’s expansion of its renewable energy strategy. It strengthens the firm’s reputation as a trusted partner in clean energy for industries across India. The project demonstrates how both companies aim to scale sustainable power and reduce their dependence on conventional energy sources.
Udit Garg, Managing Director of Kundan Green Energy, emphasised the firm foundation of the partnership. Additionally, he stated that Havells’ investment demonstrates clear confidence in Kundan’s ability to deliver reliable and scalable renewable infrastructure. Garg explained that the 21.43 MW project supports the company’s mission to supply industries with consistent clean power. He also highlighted how the initiative will help industrial clients reduce their carbon emissions, enhance energy security, and achieve long-term cost stability. Consequently, these goals align closely with India’s wider sustainability agenda.
Havells India welcomed the collaboration, describing it as a natural extension of its sustainability roadmap. The company stated that the investment supports its plan to integrate clean and cost-efficient energy into its manufacturing operations. Moreover, the move strengthens Havells’ commitment to lowering operational emissions and shifting steadily towards greener production methods.
Kundan Solar (Pali) Pvt. Ltd., the Special Purpose Vehicle (SPV), will manage the project directly. The SPV will design the plant, develop the infrastructure, install the systems, and handle long-term operations. Since Havells participates as both an equity partner and captive consumer, the project gains more substantial commercial and technical depth. Consequently, the partnership underscores the increasing significance of captive renewable projects in India’s expanding clean energy sector.
Kundan Green Energy will lead the entire development cycle. Additionally, the company will manage regulatory procedures, site execution, and operational oversight. It aims to deliver dependable renewable power with consistent performance and high-quality standards. Through this initiative, the company intends to support industrial growth while advancing sustainability and cost efficiency.
The companies plan to invest ₹72.5 crore in phases, linking each stage to key development milestones. They also expect to complete the entire project by May 31, 2026. Once the plant begins operating, it will significantly contribute to India’s growing demand for clean energy. The initiative is likely to set a strong precedent for future industry-led renewable collaborations.