ITI Limited, a leading Indian telecom manufacturer and public sector undertaking (PSU), announced it had received significant contracts to install solar street light systems in Bihar. This news, shared through a recent exchange filing, underscores ITI’s commitment to clean energy solutions and growing expertise in the solar power sector.
The Bihar Renewable Energy Development Authority (BREDA) awarded ITI Limited’s Naini Unit Letters of Intent (LoIs) worth a combined total of ₹37.5 crore. These contracts fall under the Mukhyamantri Gramin Solar Street Light Yojana, a government initiative promoting solar-powered street lighting in rural areas.
ITI’s Naini Unit will be responsible for the design, supply, installation, testing, and commissioning of these solar street light systems. Additionally, they will provide comprehensive maintenance contracts (CMCs) for five years, ensuring the long-term functionality of the systems. An innovative remote monitoring system (RMS) will also be integrated, enabling efficient management and performance tracking.
The contracts encompass two distinct projects:
The successful acquisition of these contracts highlights ITI’s established expertise in solar power solutions. Their Naini Unit already manufactures solar panels with a capacity of up to 400 watts each. Currently, the unit produces enough solar panels to generate 18 megawatts (MW) of clean energy annually, translating to approximately 55,000 panels per year. However, ITI is actively expanding its capacity and aims to reach a production level of 15 million panels per year upon completion of its enhancement project, positioning itself as a major player in India’s solar energy landscape.
“ITI Limited is proud to partner with the Government of Bihar’s BREDA to help illuminate streets with sustainable solar energy. This project is a testament to our commitment to sustainability and creating vibrant rural environments. The project adds to the aesthetics there and provides cutting-edge lighting solutions for a greener tomorrow,” said Mr Rajesh Rai, Chairman and Managing Director.
He further added “ITI Limited has acquired rich experience of successfully supplying and installing Solar Street Light System in the state of Bihar since last year.”
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: May 17, 2024, 2:16 PM IST
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