Deals20 Aug 2024, 10:42 pm
RMC Switchgears' Subsidiary Secures Approval for 50MW Renewable Energy Park in Rajasthan
AI Summary
RMC Switchgears Ltd. has announced that its subsidiary, RMC Green Energy Pvt Ltd, has received approval from the Rajasthan Renewable Energy Corporation to establish a 50 MW Renewable Energy Park in Rajasthan. This approval is a significant step for RMC Switchgears as it expands its footprint in the renewable energy sector, operating as a renewable IPP. The company is actively pursuing additional tenders exceeding 600 MWp and aims to secure 1 GWp in EPC contracts over the next 18 months. This initiative aligns with India's goal of achieving 450 GW of renewable energy capacity by 2030, contributing significantly to the country's climate action commitments under the Paris Agreement.
Key Highlights
- RMC Switchgears' subsidiary, RMC Green Energy Pvt Ltd, has received approval to establish a 50 MW Renewable Energy Park in Rajasthan.
- This approval marks RMC Switchgears' transition into a renewable energy company with solar plants as IPPs and EPC contracts for solar as the primary focus.
- RMC Switchgears is actively pursuing additional tenders exceeding 600 MWp and aims to secure 1 GWp in EPC contracts over the next 18 months.
- This initiative aligns with India's goal of achieving 450 GW of renewable energy capacity by 2030.
- RMC Switchgears' expansion into solar projects helps reduce carbon emissions, foster economic growth, and create green jobs.