RMC Switchgears Secures ₹320 Crore Rooftop Solar Project in Rajasthan

RMC Switchgears Limited has received a ₹320 crore Letter of Acceptance (LOA) from the Government of Rajasthan to install rooftop solar systems across state government buildings in Jaipur and Dausa. This initiative, executed under the Hybrid Annuity Mode (HAM), marks a significant step in India’s renewable energy expansion.

Project Overview and Financial Impact

The project involves designing, supplying, erecting, and commissioning rooftop solar installations with a total capacity of 50 MW. RMC will also oversee operations and maintenance (O&M) for 25 years, ensuring long-term sustainability. The LOA includes a one-time revenue opportunity of ₹229 crore and recurring revenue of ₹91 crore over the next 25 years, establishing a stable income stream for the company.

Strategic Significance and Future Growth

This contract reinforces RMC’s position in India’s clean energy transition. Rajasthan’s commitment to solar-powered government buildings aligns with RMC’s expansion strategy in Solar EPC and Independent Power Production (IPP). The company’s investment in solar module manufacturing further strengthens execution efficiency and value creation, supporting India’s broader renewable energy objectives.

RMC Switchgears Share Performance 

As of March 17, 2025, at 2:5PM, the RMC Switchgears share price are locked at an upper circuit limit ₹574.65 per share, reflecting a surge of 5% from the previous closing price. Over the past month, the stock has registered a decline of 21.28%

Conclusion

By securing this project, RMC Switchgears strengthens its foothold in the solar energy sector while contributing to India’s clean energy vision. The long-term revenue potential and strategic alignment with national goals make this a milestone achievement for the company.

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