RMC Switchgears Expands Renewable Energy Footprint: Incorporates New Subsidiary 'RMC Solar One Private Limited' Amidst Solar Manufacturing and EPC Growth

RMC Switchgears Ltd. has taken a significant step in bolstering its renewable energy portfolio by incorporating a new subsidiary, RMC Solar One Private Limited, in which it holds a 58% stake. This strategic move aligns with the company's ambitious plans to enhance its presence in the solar sector.

RMC Switchgears has recently announced a ₹100 crore investment in a state-of-the-art solar module manufacturing plant in Jaipur, Rajasthan, with an annual production capacity of 1 GWp. The facility, expected to be operational by July 2025, will produce solar modules and module mounting structures, reducing dependency on external suppliers and enhancing execution efficiency for RMC's Solar EPC and IPP projects.

Additionally, RMC Switchgears has secured a ₹320 crore contract for a 50 MW rooftop solar system installation across state government buildings in Jaipur and Dausa. This project, executed under the Hybrid Annuity Mode, includes a one-time revenue opportunity of ₹229 crore and recurring revenue of ₹91 crore over 25 years, ensuring long-term financial stability.

The incorporation of RMC Solar One Private Limited complements these initiatives, further solidifying RMC's commitment to renewable energy and supporting India's clean energy transition goals. With a strong focus on sustainable growth, RMC continues to expand its solar EPC and IPP capabilities, positioning itself as a key player in India's renewable energy sector.

Sources: Angel One, SolarQuarter, Business Standard, Mercom India.