Latest news with #RRECL
The Hindu
11 hours ago
- Business
- The Hindu
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.
Time of India
13-05-2025
- Business
- Time of India
Rajasthan accelerates ₹4.23 lakh crore green energy push, targets 125 GW capacity
Bhajan Lal Sharma , Chief Minister of Rajasthan, said the state is rapidly establishing itself as a national leader in renewable energy and industrial growth, with investment commitments worth ₹4.23 lakh crore materializing under the Rising Rajasthan Global Investment Summit . He noted that timely execution of these projects will significantly boost the state's economy and create over six lakh private-sector jobs. Chairing a high-level review meeting, Sharma reaffirmed the government's commitment to facilitating smooth project implementation. To ensure effective coordination, a nodal officer will be appointed for each project. He also directed officials to accelerate land allotment, infrastructure connectivity, and regulatory clearances for wind, hybrid, battery storage, and pump storage projects. State Aims for 125 GW Renewable Capacity Sharma stated that Rajasthan aims to scale up its renewable energy capacity from the current 30 gigawatts to 125 gigawatts in the coming years, positioning the state as a net energy surplus region. This ambitious target will not only make Rajasthan a key player in India's energy landscape but also contribute significantly to the country's overall renewable energy objectives. In addition to solar and wind energy, the government is prioritizing innovative technologies such as pump storage and battery storage systems to enhance energy reliability. Sharma emphasized that these solutions will play a crucial role in balancing energy demand and supply, ensuring a sustainable and resilient energy future for the state. MoUs Underway Across Sectors According to the state government, 31 MoUs have been signed for wind and hybrid energy projects , amounting to ₹4.23 lakh crore, with a total capacity of 66.4 GW. Of these, 14 MoUs, covering 26,970 MW, have been officially registered, and work has commenced on 12 of these projects. In the battery storage sector, 18 MoUs valued at ₹53,900 crore have been signed, involving both manufacturers and project developers. Furthermore, 13 MoUs for pump storage projects, with a proposed capacity of 20.5 GW and a total investment of ₹1.52 lakh crore, have been signed, involving both CPSUs and private developers. Investors present at the review meeting provided the Chief Minister with updates on the progress of their projects and commended the state government's proactive approach in addressing any challenges. They highlighted that Rajasthan has cultivated a highly conducive investment environment under the current administration. The meeting was attended by Sudhansh Pant, Chief Secretary, Alok Gupta, Principal Secretary to CM & Chairman, RRECL, Nathmal Didel, MD, RVPN, Om Prakash Kasera, MD, RRECL, Arti Dogra ,Chairman (DISCOMs), and senior officials from relevant departments, along with key investors in the renewable energy sector.
