en.Wedoany.com Reported - SWELECT Energy Systems Limited has approved the acquisition of the entire equity stake in USolar Assetco Four Private Limited, a special purpose vehicle (SPV) developing a 26.6 MWp DC solar project under the group captive model in Karnataka.

The company's board has approved the acquisition for a consideration not exceeding INR 3.30 crore (₹3.30 crore). Upon completion of the transaction, USolar Assetco Four Private Limited will become a wholly-owned subsidiary of SWELECT.

The acquired SPV was established to develop the solar project and currently has no operational revenue.

The 26.6 MWp solar project is being developed under the group captive framework, enabling commercial and industrial consumers to procure renewable energy while reducing electricity costs and supporting their sustainability goals.

This acquisition aligns with SWELECT's strategic objective of strengthening its independent power producer (IPP) business and expanding its portfolio of owned renewable energy assets. By increasing its footprint in the captive renewable energy segment, the company aims to enhance long-term recurring revenue streams and support India's growing clean energy transition.

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