Kundan Green and Havells plan captive solar project in Rajasthan

Kundan Green Energy has entered a partnership with Havells India Limited to set up a captive solar project in Rajasthan through a special purpose vehicle (SPV) called Kundan Solar (Pali) Private Limited. The project involves an investment of Rs 725 million and will supply captive power to Havells.

Kundan Green Energy and Havells will work through the SPV to design, develop, install and operate a 21.43 MWp or 15 MWAC solar plant. Havells will hold a 26 per cent equity stake in the SPV. The investment will be released in stages based on development milestones. The partners expect full commissioning by 31.05.2026.

Udit Garg, Managing Director of Kundan Green Energy, said the partnership signals confidence in the company’s approach to renewable infrastructure. He said the 21.43 MW DC project supports industrial consumers by providing clean power that improves energy security and cost stability.

The Havells team said the partnership supports its plan to increase clean and cost efficient power for its manufacturing operations and strengthens its long term sustainability pathway.

The SPV will manage the design, development, installation and long term operation of the 21.43 MW DC or 15 MW AC solar project. With Havells serving as both captive consumer and equity partner, the project gains technical and commercial support within India’s expanding renewable energy market.

Kundan Green Energy will oversee regulatory requirements, site execution and operational management. The company aims to deliver reliable renewable power that supports industrial growth and improves sustainability performance.

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