Havells has approved acquiring a 26% stake in Kundan Solar (Pali) Private Limited for INR 5.63 Cr.

This strategic investment in the solar power SPV aims to reduce Havells' dependence on fossil fuels and transition to green energy.

The deal involves setting up a 15 MWac solar power plant, enabling Havells to become a captive consumer and enter a long-term power purchase agreement.

This move is expected to generate significant power cost savings for its Rajasthan plants, with a quick payback period of 12-18 months. #Havells #GreenEnergy