11 hours ago
Raminfo-led consortium bags ₹474-cr. rooftop solar projects order from RRECL
Raminfo, through a consortium it is leading, has bagged a ₹474-crore order from Rajasthan Renewable Energy Corporation Ltd. (RRECL).
It marks the company's foray into smart-energy solutions, the Hyderabad-based tech solutions provider said on Tuesday. Special purpose vehicle Raminfo Green Energy, set up last month, in which the company holds 51% stake, will execute the project, Managing Director L. Srinath Reddy said in a release.
The SPV will operate in electricity, gas, steam and air-conditioning supply sector, the company said.
The scope of RRECL order includes design, supply, erection, testing and commissioning along with comprehensive operation and maintenance for 25 years of rooftop solar photovoltaic power projects to be installed on buildings owned by the State government and its undertakings across Rajasthan under hybrid annuity mode aggregating to a total capacity of 73 MW.
Solar is one of the fastest-growing renewable energy sources in the world and 'with our integrated rooftop solar solutions, we aim to lead the charge of India's energy revolution to achieve rooftop solar targets on state government buildings at various locations in Rajasthan,' said.
Rooftop solar industry in India is experiencing rapid growth with total installed capacity reaching 13.7 GW by December 2024 on the back of government initiatives. The market is projected to expand, with some estimates suggesting a market value of $4.46 billion by 2033. Investments by Central and State governments as also by the private sector is set to boost overall capacity addition in green energy which in turn will contribute to the company, Raminfo said.
The company's shares closed 19.99% higher at ₹92.66 apiece on the BSE.
