Select Energy Systems Limited Acquires 100% Stake in Dexler Solar Park Phase 1
Swelect Energy Systems Limited has announced the acquisition of a 100% equity stake in Dexler Solar Park Phase 1 Private Limited (DSPP1), strengthening its renewable energy portfolio and expanding its presence in Karnataka’s fast-growing clean energy market.
The acquisition was approved by the company’s Investment Committee on July 25, 2026, under the powers delegated by the Board of Directors. Following the completion of the transaction, DSPP1 will become a Wholly Owned Subsidiary (WOS) of Swelect Energy Systems Limited and will be used to develop a group captive solar power project in the state.
Key Highlights of the Acquisition
Under the transaction, Swelect Energy Systems will acquire the entire equity share capital of Dexler Solar Park Phase 1 Private Limited through a cash transaction.
Transaction Highlights
- Target Company: Dexler Solar Park Phase 1 Private Limited (DSPP1)
- Stake Acquired: 100% equity ownership (10,000 equity shares)
- Acquisition Cost: Not exceeding ₹1 lakh
- Mode of Consideration: Cash
- Regulatory Approvals: No governmental or regulatory approvals are required
- Post Acquisition Status: DSPP1 will become a Wholly Owned Subsidiary of Swelect Energy Systems Limited.
7 MW Group Captive Solar Power Plant Planned
Swelect Energy Systems said the acquired company will establish a solar power plant with an initial capacity of up to 7.0 MWDC under the Group Captive Scheme.
The project is expected to increase the company’s consolidated turnover over time while strengthening the group’s renewable energy footprint in Karnataka. The acquisition aligns with Swelect’s long-term strategy of expanding its clean energy generation assets to serve commercial and industrial customers seeking sustainable power solutions.
About Dexler Solar Park Phase 1
Dexler Solar Park Phase 1 Private Limited was incorporated on March 5, 2018, in Karnataka. Although it has not yet commenced commercial operations, the company has been established to undertake renewable and non-conventional energy projects.
Its business objectives cover the development, installation, operation, and management of renewable energy projects, including solar, wind, biomass, geothermal, tidal, and hydel power. The company also has provisions to manufacture and trade renewable energy products such as solar panels, photovoltaic cells, batteries, energy-efficient appliances, and related equipment.
Financial Profile of the Target Company
DSPP1 is currently a project-stage company with no operating revenue.
For the financial year ended March 31, 2025, the company reported:
- Turnover: Nil
- Profit After Tax (PAT): Loss of ₹34,860
- Net Worth: Negative ₹6.45 lakh
The company also recorded nil turnover during FY23, FY24, and FY25, reflecting that commercial operations are yet to begin.
Strategic Significance
While Dexler Solar Park Phase 1 currently has no operational revenue, the acquisition provides Swelect Energy Systems with a ready corporate platform to execute its upcoming group captive solar project efficiently.
With India’s commercial and industrial sectors increasingly adopting renewable energy to reduce power costs and meet sustainability goals, the planned 7 MW solar project is expected to support Swelect’s growth strategy and further strengthen its position in the country’s clean energy sector.