Havells India, a leading electrical and electronics company, has made a significant move to boost its presence in the renewable energy sector by investing in Goldi Solar, a prominent Indian solar PV module manufacturer. The investment is aimed at fueling the growth of renewable energy in India and contributing to the country’s goal of achieving 40 GW of solar power by 2030.
As part of the deal, Havells India will acquire a 26% stake in Goldi Solar, valued at Rs. 320 crore (approximately $43 million). The investment is expected to support Goldi Solar’s expansion plans, including setting up new manufacturing facilities, increasing production capacity, and enhancing research and development efforts.
Goldi Solar, founded in 1995, has established itself as a leading player in the Indian solar industry, with a production capacity of 1 GW. The company has installed over 1,500 MW of solar power projects across the country. With Havells India’s investment, Goldi Solar is poised to accelerate its growth trajectory, expanding its manufacturing capacity, customer base, and geographic reach.
The partnership between Havells India and Goldi Solar is expected to leverage the strengths of both companies, combining Havells’ expertise in electrical and electronics with Goldi Solar’s specialization in solar PV modules. The joint venture will enable the development of new products, technologies, and solutions, driving innovation and efficiency in the renewable energy sector.
The investment is also expected to support India’s efforts to reduce its carbon footprint and meet its ambitious renewable energy targets. The Indian government has set a target of generating 40% of its electricity from non-fossil fuel sources by 2030, and the investment in Goldi Solar is expected to contribute to this goal.
In a statement, Havells India’s Chairman, Anil Rai Gupta, emphasized the company’s commitment to supporting the growth of renewable energy in India, stating, “We are excited to partner with Goldi Solar, a pioneer in the Indian solar industry. This investment marks a significant step towards Havells’ mission to drive sustainable energy solutions and contribute to India’s renewable energy growth story.”
The investment in Goldi Solar reflects Havells India’s growing focus on the renewable energy sector, as the company seeks to diversify its product portfolio and reduce its carbon footprint. With this move, Havells India is poised to play a significant role in India’s renewable energy growth story, driving innovation, and contributing to the country’s clean energy ambitions.