Bright Sparks: Raminfo’s Rooftop Solar Win Energizes Rajasthan’s Skyline!

Image Source: LinkedIn, The Hans India

Raminfo Ltd, a leading technology solutions company, has received a whopping ₹474 crore order to develop 73 MW of rooftop solar projects in Rajasthan, India, and it is one big step for India's renewable energy industry.

Key Highlights

Significant Victory: Raminfo, as the consortium lead member, won the Rajasthan Renewable Energy Corporation Limited (RRECL) contract to design, supply, install, test, and commission government building rooftop solar photovoltaic power projects in Rajasthan.

Long-Term Commitment: The agreement has complete operation and maintenance (O&M) for 25 years, with guaranteed consistent performance and reliability.

Strategic Stake: Raminfo would hold a 51% stake in the venture in the shape of its Special Purpose Vehicle (SPV), Raminfo Green Energy Private Limited, established as a new company to lead the company's green energy revolution.

Market Impact: Raminfo's share rose following the announcement to its 20% above circuit limit of ₹92.66, reflecting higher investor optimism in the firm's renewable energy plan.

Industry Background: India's rooftop solar industry is booming, with installed capacity reaching 13.7 GW as of Dec 2024. The industry also expected to grow to $4.46 billion by 2033, driven by government policy, reducing costs, and rising awareness of solar benefits.

Leadership Discussion: L. Srinath Reddy, MD, highlighted Raminfo's commitment to offering innovative, affordable solar solutions and leading India's energy revolution.

Green Push: The effort is in line with green energy investments on the national and state levels, further increasing India's renewable capacity and propelling the country's climate ambition.

Why This Matters

This historic command not only solidifies the leadership position of Raminfo as India's market leader in the solar revolution but also portends robust growth prospects for the company as well as the overall renewable energy sector.

Source:

The Hindu Business Line, Equity Bulls, Business Today