RMC Switchgears Plans To Foray Into Solar Manufacturing

Renewable energy company Rajasthan-based RMC Switchgears has now planned to venture into solar manufacturing. The company which recently also ventured into the solar EPC business has now plans to try hands-on manufacturing. The firm has now planned to start the manufacturing of solar modules and mounting structures with a capacity of 1GWp each. The firm has planned to establish its manufacturing unit at Badodiya Village, Chaksu Tehsil, Jaipur, Rajasthan. It has an estimated capital expenditure of ₹100 crore.

The new facility will be located on land adjoining the company’s current operational plant, ensuring seamless integration and operational efficiency. The project’s CAPEX will be financed through internal accruals, equity, and debt, underscoring RMC’s disciplined financial strategy. Additionally, Both Plants are expected to become operational by July 2025, and commercial revenues are expected from August 2025.

Execution Through RMC Green Energy

The project will be executed through RMC Switchgears subsidiary, RMC Green Energy. To facilitate this, RMC will increase its ownership of RMC Green Energy from 51% to nearly 100%. Thus, making it a wholly owned subsidiary through equity infusion and buying the shares on Fresh Issue by the subsidiary. This move will enhance operational control and strengthen RMC’s vision of creating a comprehensive solar ecosystem.

Backward Integration to Strengthen Operations

As RMC actively explores new opportunities in Solar EPC and IPP projects, this expansion marks a crucial step toward backward integration. The Solar Module Manufacturing Plant is likely to reduce RMC’s dependency on external suppliers by catering to the internal requirements of ongoing and future projects.

This integration will enhance cost efficiencies, ensure timely execution, and improve supply chain reliability. Apart from the captive consumption of these products, the strong demand in the market will ensure a strong top line and bottom line for the company in FY 26.

Commenting on the announcement, Ankit Agrawal, CEO and Whole-Time Director of RMC Switchgears Limited, said, “This Solar Module & Module Mounting Structure Manufacturing Plants is a strategic backward integration for RMC, enabling us to reduce external dependencies and strengthen our ability to deliver Solar EPC and IPP projects seamlessly. By leveraging RMC Green Energy, we are not only supporting our current pipeline but also creating opportunities for commercial sales, positioning RMC as a significant player in the solar module market. This investment reinforces our commitment to innovation, sustainability, and delivering long-term value for our stakeholders. The addition to these lines will add the maximum products in our range such as EPC – Both Solar and Transmission, Modules, Structures, Solar Electrical Panels and Solar Distribution Boxes, etc.” This initiative aligns with RMC’s Vision 2030 of becoming a ₹5000 crore enterprise