RMC Switchgears Ltd. announced the establishment of its new subsidiary, RMC Green Energy Private Ltd., with a majority of 51% stake. This strategic move marks RMC's commitment to expanding its footprint in the renewable energy sector and supporting India's transition to sustainable energy solutions.

India is the third-largest energy consuming country in the world and ranks fourth globally in Renewable Energy Installed Capacity (including Large Hydro). At COP26, India set an ambitious target of achieving 500 GW of non-fossil fuel-based energy by 2030, a key pledge under the Panchamrit initiative. This represents the world's largest expansion plan in renewable energy, demonstrating India's commitment to a sustainable future.

RMC Green Energy Private Limited has been created to carry on a wide array of business activities related to renewable energy. The company's objectives include the manufacturing, producing, processing, generating, accumulating, distributing, transferring, preserving, mixing, supplying, contracting, and consulting in various forms of energy. These include electricity, steam, power, solar energy, wind energy, green H₂, green ammonia, biomass energy, geothermal energy, hydel energy, tidal and wave energy, and other conventional, non-conventional, and renewable energy sources. Additionally, the company will be involved in electric mobility, battery storage, battery management solutions, and waste treatment plants of all kinds.

RMC Green Energy Private Limited aims to be a leader in the energy sector, offering services as importers, exporters, buyers, sellers, assemblers, hirers, repairers, dealers, distributors, stockists, wholesalers, retailers, jobbers, traders, agents, brokers, representatives, collaborators, and marketers. The company is dedicated to managing, leasing, renting, and utilizing energy solutions in India and internationally.

Ankit Agrawal, CEO and Whole-Time Director of RMC Switchgears, said, "The launch of RMC Green Energy Private Limited is a significant milestone for RMC Switchgears. This new venture aligns with our commitment to innovation and sustainable growth. RMC Green Energy will enable us to explore and capitalize on new opportunities in the renewable energy sector, reinforcing our mission to support India's energy transition and contribute to a greener future. We are excited about the potential this new subsidiary holds and look forward to driving impactful projects that benefit our clients, stakeholders, and the environment."