RMC Switchgears Expands into Solar Manufacturing
To Set Up 1 GW Solar Module, Mounting Structure Manufacturing Facility
Image for illustration purposes.
RMC Switchgears has announced plans to establish a new manufacturing facility in Rajasthan, India, focusing on solar modules and module mounting structures. The facility, to be located in Badodiya Village of Chaksu Tehsil, Jaipur, will have an annual production capacity of 1 GWp for both solar modules and mounting structures.
Key details of the project include:
– Estimated capital expenditure: INR 100 crore (£9.5 million)
– Expected operational date: July 2025
– Commercial revenue generation: From August 2025
The project will be executed through RMC Green Energy, a subsidiary of RMC Switchgears. To facilitate this expansion, RMC plans to increase its ownership in RMC Green Energy from 51% to nearly 100%, making it a wholly-owned subsidiary.
Ankit Agrawal, CEO and whole-time director of RMC Switchgears, highlighted the strategic importance of this move, stating that it represents a backward integration for the company. This expansion aims to reduce external dependencies and strengthen RMC’s ability to deliver solar EPC (Engineering, Procurement, and Construction) and IPP (Independent Power Producer) projects more efficiently.
The new facility will be situated adjacent to RMC’s current operational plant, ensuring seamless integration and operational efficiency. Funding for the project will come from a combination of internal accruals, equity, and debt.
This development aligns with RMC’s long-term vision and positions the company as a significant player in the solar module market, supporting both its current project pipeline and creating opportunities for commercial sales in the growing renewable energy sector.
Source: pv magazine India
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