NTPC’s green energy arm eyes USD 1.2bn from Indian IPO
Sep 19, 2024 11:52 CESTIndia-based RMC Green Energy Pvt Ltd has obtained regulatory clearance to build a 50-MW solar park in the state of Rajasthan, backing its parent's goal of doing business in the renewable energy sector.
The permit was granted by the Rajasthan Renewable Energy Corporation, the unit of engineering group RMC Switchgears said on Tuesday.
The execution of the solar project is aligned with RMC Switchgears’ strategy to enter the solar segment by becoming an independent power producer. The group has set a goal of securing 1 GWp of engineering, procurement and construction (EPC) contracts over the next 18 months, supporting the national target of achieving 450 GW of renewable energy capacity by the end of the decade.
"This approval marks a pivotal step in our journey as we transition into a renewable energy company, with solar plants as IPPs and EPC contracts for solar as our primary focus,” said Ankit Agrawal, CEO of RMC Switchgears.
RMC Green Energy focuses on the development of renewable energy projects, covering the solar, wind, green hydrogen, biomass, geothermal, hydropower and tidal power technologies.
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