RITES’ subsidiary -- Railway Energy Management Company (REMCL) has secured its largest mandate from Indian Railways for handling tendering, installation supervision and managing power supply from 3 GW solar power plants to be set-up on vacant Indian Railway Land. The project will be divided into 3 phases of 1 GW each. First and third phase of 1 GW each will be on PPP basis under Design, Build, Finance, Operate and Transfer model. Second phase of the project (1 GW) will be on ownership model of REMCL, which will be eligible for capital subsidy under CPSE investment scheme. The Railways have already identified suitable land to be leased to REMCL on nominal lease rent.
RITES is a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.
