RMC Switchgears Ltd. witnessed a 5% surge in its stock price today after announcing that it has received a Letter of Acceptance (LOA) from the Government of Rajasthan for the installation of rooftop solar systems across state government buildings in Jaipur and Dausa. The total project value stands at ₹320 crore, including a one-time revenue opportunity of ₹229 crore and a recurring revenue of ₹91 crore over the next 25 years from operations and maintenance (O&M) services.
The project involves the installation of a 50 MW solar capacity under the Hybrid Annuity Mode (HAM), ensuring long-term financial sustainability. RMC will handle the design, supply, erection, and commissioning of these solar installations while also overseeing their maintenance post-commissioning.
The order reinforces RMC’s growing presence in India’s renewable energy sector and aligns with Rajasthan’s vision of transitioning government buildings to solar power. Commenting on the development, CEO and Whole-Time Director Ankit Agrawal stated that this project is a significant step in RMC’s expansion into the Solar EPC domain and marks a milestone in its ‘Vision 2030’ roadmap.
With this order, RMC Switchgears strengthens its renewable energy footprint and continues its transition toward green energy projects. Investors responded positively to the announcement, driving the stock to ₹574.65, a 5% increase from its previous close of ₹547.30.
