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Havells India Acquires 26% Stake in Kundan Solar to Boost Clean Energy Transition.

Havells India Ltd has approved the acquisition of a 26% stake in Kundan Solar (Pali) Pvt Ltd, marking a significant step in its clean energy transition. The investment of ₹25.63 crore will be made in phased tranches linked to project milestones and completed by June 30, 2026. Kundan Solar, incorporated in April 2025 under the Kundan Group, will develop a 15 MWac solar power plant in Rajasthan, enabling Havells to enter a 25-year power purchase agreement once operational. The acquisition ensures Havells meets the regulatory requirement of holding at least 26% equity to qualify as a captive consumer, helping the company reduce reliance on fossil fuels. Havells expects substantial power cost savings at its Rajasthan plants, with an anticipated payback period of 12–18 months post-commissioning. The plant is slated for commissioning in Q2 FY26–27. Havells shares closed 1.32% higher at ₹1,438.20 on Wednesday.