Kundan Solar (Pali) Pvt. Ltd., a dedicated vertical of Kundan Green Energy, has strengthened its national renewable-energy presence by forming a strategic partnership with Havells India Ltd. The collaboration involves Havells taking a 26% equity stake in the Special Purpose Vehicle (SPV) responsible for delivering a new 21.43 MW DC / 15 MW captive solar project in Rajasthan.
This development represents a noteworthy advancement in Kundan Green Energy’s ambition to position itself as a reliable partner for industries seeking stable, clean, and cost-effective renewable power solutions. As industrial consumers increasingly prioritise sustainability, carbon reduction, and energy independence, the project reinforces Kundan’s commitment to providing high-quality solar infrastructure.
According to Udit Garg, Managing Director of Kundan Green Energy, the partnership demonstrates strong confidence in the company’s ability to deliver scalable and robust renewable-energy systems. He indicated that the 21.43 MW DC project would support industrial clients in reducing their carbon emissions, improving energy security, and achieving long-term operational stability through clean power.
Havells India, one of the country’s leading electrical equipment manufacturers, noted that the collaboration fits within its broader sustainability and clean-energy goals. The company stated that working with Kundan Green Energy would help expand its access to dependable, cost-efficient renewable power for its manufacturing operations and strengthen its long-term environmental roadmap.
SPV structure to ensure smooth execution
The project will be developed under the SPV Kundan Solar (Pali) Pvt. Ltd., which will manage the design, engineering, procurement, installation, and long-term operation of the solar facility. The SPV structure is intended to streamline execution and ensure dedicated oversight throughout the project lifecycle.
Havells’ dual role as both a captive consumer and equity partner adds additional credibility to the venture. This structure also strengthens the financial and operational framework of the project, helping it stand out in India’s increasingly competitive renewable energy market.
₹72.5 crore investment planned with May 2026 completion target
The total project investment, set at ₹72.5 crore, will be infused in phases aligned with regulatory and construction milestones. The solar plant is expected to be fully operational by 31 May 2026, supplying Havells’ industrial units with consistent, clean power while reducing dependency on conventional grid electricity.
Boost to India’s renewable energy ambitions
As the lead developer, Kundan Green Energy will supervise every stage of the project’s development, including regulatory coordination, site preparation, execution, and long-term operations. The company aims to maintain high standards of output efficiency and performance reliability, aligning with national targets to accelerate renewable-energy adoption.
The new captive solar installation reflects a broader trend across India, where industrial consumers are increasingly turning towards renewable power to reduce operating costs and meet environmental, social, and governance (ESG) commitments. With rising electricity tariffs and stricter sustainability mandates, captive solar projects are becoming a preferred solution for long-term energy management.
This partnership represents a decisive step forward for both organisations, combining Kundan Green Energy’s technical expertise with Havells India’s commitment to sustainable industrial practices. The project underscores the growing role of collaborative renewable-energy models in shaping a greener, more economically secure future for India’s industrial sector.
