JAIPUR, India, Nov. 11, 2024 -- RMC Switchgears Limited is pleased to announce the signing of an enabling Memorandum of Understanding (MoU) with the Government of Rajasthan to establish the state's first-of-its-kind 1000 MW Ultra Mega Solar Park with integrated battery storage. This groundbreaking project, located in Jaipur, marks a major milestone in RMC's strategic expansion into renewable energy and will play a key role in achieving the company's growth objectives.

This project will take 2-3 years to execute and will play a part in meeting RMC's target of implementing ~1 GW greenfield projects, with a blend of EPC & IPP arrangements, but also serves as a significant contributor towards the Vision 2030 goal of becoming a ₹5,000 crore enterprise. Once fully implemented, this enabling MOU will help RMC meet its 1 GW milestone, highlighting RMC's capability and commitment to executing large-scale renewable energy projects, which aligns snugly with India's ambitious green energy goals.

Beyond its strategic impact on RMC's growth trajectory, this mega solar park is also expected to have a transformative effect on the local economy. The project will create ~2,000 direct jobs and will support socio-economic development in Rajasthan. The Government of Rajasthan has committed to facilitating all necessary approvals and clearances to ensure smooth and timely execution, with power generation anticipated to begin by 2026.

Mr. Ankit Agrawal, CEO and Whole-Time Director of RMC Switchgears, said: "This Ultra Mega Solar Park project is a pivotal development for RMC, underscoring our commitment to India's transition to greener and more sustainable energy sources. Beyond its environmental impact, the project will generate substantial employment opportunities, supporting economic growth. We are grateful to the Government of Rajasthan for their support and are excited to contribute to a cleaner, more sustainable future while fostering positive change in local communities."

This development underscores RMC's commitment to becoming a meaningful player in India's renewable energy landscape, supporting the nation's target of achieving 450 GW of renewable energy capacity by 2030. Through this and other initiatives, RMC Switchgears is positioning itself an important player in India's green energy transformation, creating long-term value for stakeholders and promoting sustainable growth.

About RMC Switchgears Limited:

RMC Switchgears is a leading player in the electrical infrastructure solutions sector, specialising in the manufacturing of electrical enclosures that prevent electrical theft and enhance safety by preventing electrocution. The Company has established a strong reputation in the smart meter enclosure market, supporting utilities across India under initiatives such as the Revamped Distribution Sector Scheme (RDSS). RMC's solutions span manufacturing, installation, and Operations & Maintenance (O&M), making it a trusted partner for AMISPs, utilities and state entities as India modernises its power distribution networks.

RMC has recently expanded its focus to include renewable energy initiatives, particularly in solar and green energy EPC and IPP solutions, as part of its broader strategy to create value from India's clean energy transition. This transition complements the Company's core infrastructure business, with additional efforts directed toward water management infrastructure using advanced technologies such as IoT. RMC continues to participate in providing high-value, customised solutions for discoms that enhance efficiency, reduce losses, and support India's power security goals, reinforcing its role as a meaningful player in India's sustainable infrastructure development.

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