RMC Switchgears Limited, listed on the BSE as RMC, has unveiled substantial strides in its renewable energy initiatives. Key developments include advancements on a 1 GW solar module manufacturing plant in Jaipur, and a ₹59.12 crore contract win under the Revamped Distribution Sector Scheme (RDSS), aiming to boost its foothold in the solar sector.
The Jaipur plant, a ₹100 crore investment, is poised to bolster RMC’s presence in renewable energy by promoting backward integration for its EPC business. Operational deadlines have been updated due to unforeseen delays, but funding from internal accruals and SIDBI has been secured to keep the project on track.
RMC’s migration to the BSE Main Board is progressing, with its application in the final stages of eligibility verification. This move aims to elevate RMC’s market visibility and attract institutional investors, aligning with RMC’s strategic goals in solar manufacturing, distribution infrastructure, and capital market readiness.
(With inputs from agencies.)
