2 days Ago
Consumer electrical goods maker Havells India has approved a ₹6 billion (about USD 70 million) strategic minority investment in Gujarat-based solar module manufacturer Goldi Solar Private Limited as part of its broader push into the renewable energy sector. Havells specializes in products like lighting, fans, switches, cables and home appliances, and industrial solutions. The new investment is expected to give Havells an 8.
9% to 9.24% stake in Goldi Solar, depending on the final size of Goldi’s ongoing primary fundraise, according to a report by CNBC . Havells hopes to leverage Goldi’s rapid capacity expansion to 10.
7 GW, with another 4 GW expected by July. Goldi is also planning to set up domestic cell manufacturing capacity within 18 months, the CNBC report said. Goldi grew from ₹17.
6 billion in FY24 to ₹34.2 billion in FY25 in revenue. Havells already sells modules, inverters, solar cables and DC switchgears as part of its foray into the solar ecosystem, with a robust presence in residential rooftop and the commercial and industrial (C&I) segment.
The investment in Goldi Solar is expected to secure a consistent supply of solar modules and cells..
