KEI Industries, a manufacturer and supplier of electrical wires, cables, and engineering, procurement, and construction (EPC) services, has signed agreements to source power from BluPine Energy’s special purpose vehicle (SPV), Solarcraft Power India 24’s 11.25 MW solar project in Rajasthan.

The company will invest ₹59 million (~$612,800) in one or more tranches for the project.

The transaction involves KEI Industries signing a share subscription and shareholder agreement, as well as a solar power purchase agreement to acquire a 26% stake in the SPV.

As of the 2025 financial year, the company had a rooftop solar capacity of 3.905 MW. Its renewable energy power generation capacity rose by 1.46% during the year.

KEI Industries has generated 15,138.51 GJ of renewable energy so far.

Last year, BluPine Energy secured ₹24.16 billion (~$280.75 million) in debt financing for its 150 MW firm and dispatchable renewable energy power project in Aland, Karnataka.

Commercial and Industrial (C&I) consumers remain the single largest category of electricity users in India, accounting for nearly 42% of total electricity consumption in recent years. This dominance is most pronounced in open access power-friendly states such as Maharashtra, Gujarat, Tamil Nadu, Karnataka, and Rajasthan, which host large industrial clusters.

A defining feature of industrial cluster growth in open access power rich states has been the continued expansion of captive power capacity. Over the past five years, captive installed capacity in industries with demand above 500 kW has steadily increased, reaching 80 GW by FY24, including nearly 9 GW from renewable energy sources. Heavy industries such as metals, cement, and petrochemicals, and large manufacturing hubs, have relied on captive renewable energy generation to manage power costs and ensure grid reliability.

Mercom India hosts C&I Clean Energy Meets across India, designed to encourage businesses to transition to renewable energy, including solar, for their operations and connect energy buyers directly with top-tier solar suppliers. The next Mercom India C&I Clean Energy Meet event will be held in Hyderabad on August 21, 2026.