Jaipur, December 16, 2024: RMC Switchgears Limited has announced plans to set up a cutting-edge solar module manufacturing plant with a 1 GWp annual production capacity at Badodiya Village, Chaksu Tehsil, Jaipur. This project, worth ₹100 crore, aims to drive renewable energy growth and enhance operational efficiency.

The new plant, strategically located next to RMC’s current facility, will seamlessly integrate with ongoing operations. The ₹100 crore investment will be funded through a mix of internal accruals, equity, and debt. Both the solar module plant and the solar module mounting structure facility are expected to begin operations by July 2025, with commercial revenue streams starting in August 2025.

The project will be executed through RMC Green Energy Pvt. Ltd., a subsidiary that will become wholly owned by RMC Switchgears after increasing its stake to nearly 100%. This move will enhance operational control and strengthen RMC’s solar ecosystem.

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RMC’s backward integration strategy is set to reduce dependency on external suppliers while improving cost efficiency and supply chain reliability. The new plant will cater to internal project needs as well as external market demand, boosting revenue in FY 2026.

Ankit Agrawal, CEO and Whole-Time Director of RMC Switchgears, emphasized: “This solar manufacturing facility marks a significant step towards backward integration, enhancing our capacity to deliver seamless solar projects. This initiative positions RMC as a key player in India’s growing solar market while aligning with our Vision 2030.”

The project will support India’s renewable energy targets and solidify RMC’s role in executing large-scale Solar EPC projects, contributing to its goal of becoming a ₹5000 crore enterprise.