Swelect Energy to acquire Dexler Solar Park, develop 7 MWdc project
Swelect Energy Systems Limited will acquire 100% of Dexler Solar Park Phase 1 Private Limited (DSPP1), which will become a wholly owned subsidiary of the company and develop a solar power project of up to 7.0 MWdc under the group captive scheme.
The acquisition was approved by Swelect Energy’s Investment Committee at its meeting on July 25, 2026, under powers conferred by the Board of Directors. The transaction is proposed to be completed through a Securities Purchase Agreement or other definitive agreements with DSPP1’s selling shareholders.
Solar project
Following completion of the acquisition, DSPP1 will be used to develop a solar power plant with an initial capacity of up to 7.0 MWdc under the group captive model.
The acquisition will allow Swelect Energy to add the project through an existing renewable energy entity and expand its renewable generation capabilities. DSPP1 operates in the renewable energy generation and distribution sector and was originally incorporated as a subsidiary of Dexler Energy Private Limited.
Target company
DSPP1 was incorporated in Karnataka on March 5, 2018, with a paid-up equity share capital of Rs 1,00,000. For FY 2024-25, the company reported nil turnover, a loss after tax of Rs 34,860 and a negative net worth of Rs 6,45,190.
Its business scope covers the development of standalone and hybrid renewable energy systems using solar, wind, geothermal, tidal, biomass and hydel sources. It also includes proprietary hardware and software for monitoring power plants.
The entity’s business activities further extend to manufacturing and trading energy-related products, including solar panels, photovoltaic cells, storage batteries and support structures.
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