Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights
Kundan Green Energy and Havells India Announce 21.43 MW Captive Solar Project
Dec 06, 2025
Havells India has partnered with Kundan Green Energy to secure clean and cost-effective power for its manufacturing operations through a new captive solar project in Rajasthan. The companies will jointly invest Rs 72.5 crore in phases to develop the 21.43 MW DC / 15 MW AC facility, which is targeted for completion by May 31, 2026.
Kundan Green Energy has offered Havells a 26% equity stake for the development of the project, marking an important milestone in Kundan’s renewable expansion efforts. The collaboration reinforces the company’s position as a dependable provider of sustainable energy solutions for industrial consumers across India.
Udit Garg, Managing Director of Kundan Green Energy, noted that the partnership demonstrates trust in the company’s ability to deliver scalable and high-quality renewable infrastructure. He added that the 21.43 MW DC project will help industries reduce emissions, improve energy security, and maintain long-term cost efficiency.
To implement the project, a Special Purpose Vehicle (SPV) named Kundan Solar (Pali) has been formed. The SPV will handle all aspects of the plant’s lifecycle—design, development, installation, and long-term operations. Havells’ role as both a captive consumer and equity partner adds technical and financial strength to the project while enhancing its market credibility.
The initiative supports Havells India’s broader sustainability strategy, ensuring a steady supply of clean power for its facilities. The Rs 72.5 crore investment will be infused in stages based on key development milestones.
Kundan Green Energy will manage regulatory compliance, on-ground execution, and ongoing operations to ensure consistent performance and adherence to quality benchmarks. The company aims to deliver reliable renewable power that contributes to industrial growth while strengthening sustainability and cost stability.