SWELECT Energy Systems Limited has announced an additional investment of up to ₹4.36 crore in its subsidiary, SWELECT Radiant Power Private Limited, to develop a 4.5 MWp DC solar power plant under a group captive scheme in Kerala. The investment is aimed at strengthening the company’s renewable energy portfolio and expanding its presence in the group captive solar segment.
The company’s Investment Committee has approved the subscription of up to 1,75,000 equity shares of SWELECT Radiant Power at ₹249.23 per share, including a face value of ₹10 and a premium of ₹239.23 per share. The investment will be made in cash across multiple tranches.
SWELECT Radiant Power Private Limited was incorporated on March 19, 2025, and operates in the solar power generation and distribution business. The company has not yet commenced commercial operations and currently has a nil turnover.
As part of the transaction, additional shares will also be allotted to other identified group captive investors. Following these allotments, SWELECT Energy Systems Limited’s holding in the subsidiary will reduce from 100% to 74%, changing its status from a wholly-owned subsidiary to a subsidiary company while retaining majority ownership.
The company stated that the transaction qualifies as a related party transaction but is being carried out on an arm’s length basis.
The proposed solar project is expected to support clean energy generation in Kerala while creating long-term business opportunities under the group captive model. SWELECT believes the investment will contribute to higher consolidated turnover in the future and reinforce its commitment to advancing sustainable renewable energy solutions across India.
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