Havells to Buy 26% Stake in Solar SPV for Long-term Captive Power

02 Dec 2025 CW Team

Havells India has approved the acquisition of a 26 per cent stake in Kundan Solar (Pali), a Special Purpose Vehicle (SPV) formed to develop, install, operate and maintain a solar power plant. The investment is aimed at strengthening the company’s transition toward green energy while reducing reliance on fossil fuel–based power.

Kundan Solar will develop a 15 MWac solar power plant, for which Havells plans to enter into a long-term Power Purchase Agreement (PPA) of up to 25 years. As per existing electricity regulations, a minimum 26 per cent shareholding is required to qualify as a captive consumer, prompting the company’s decision to acquire the mandated stake.

The arrangement is expected to help Havells reduce energy costs at its facilities in Rajasthan. The company projects a payback period of approximately 12 to 18 months from the plant’s commissioning, driven by lower tariffs under the captive model and long-term power cost stability.

The move aligns with Havells’ broader sustainability roadmap, which focuses on increasing the share of renewable energy in its operations and reducing its carbon footprint. By partnering with an SPV dedicated to solar development, the company aims to secure reliable, clean energy supply while also mitigating exposure to fluctuating grid tariffs and conventional power costs.

Industry analysts note that more corporations are increasingly adopting captive renewable energy structures to manage energy expenses and meet sustainability commitments. Havells’ investment in the Kundan Solar SPV underscores this growing trend and highlights the company’s intention to integrate long-term green energy solutions across its manufacturing ecosystem.

News source: Business Standard

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..