Latest news with #HybridAnnuityMode
Hans India
4 days ago
- Business
- Hans India
Raminfo bags Rs 474 crore order for installing Rooftop Solar Projects
Raminfo Limited, a tech solutions provider, has bagged an order worth ₹474 crore from Rajasthan Renewable Energy Corporation Limited (RRECL) through a consortium led by the Company. Raminfo has ventured into smart energy solutions to build a future with green and sustainable energy. The scope of the order includes the Design, Supply, Erection, Testing, and Commissioning, along with Comprehensive Operation & Maintenance (O&M) for a period of 25 years, of Rooftop Solar (RTS) Photovoltaic Power Projects to be installed on buildings owned by the State Government and its undertakings across Rajasthan, under the Hybrid Annuity Mode (HAM) aggregating to a total capacity of 73 MW. L. Srinath Reddy, Managing Director of Raminfo Limited said, 'Raminfo Limited will hold a 51% stake in this project through its SPV Raminfo Green Energy Private Limited, which will execute the project with a total capacity of 73 MW. We offer reliable, innovative and affordable solar energy solutions. Our expertise and our unmatched project execution capabilities helps us deliver word class solutions with highest standards. 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.' Raminfo has ventured into energy industry by incorporating Raminfo Green Energy Private Limited, a subsidiary on May 5, 2025, which operates in the electricity, gas, steam, and air-conditioning supply sector. It aims to create a sustainable world with solar energy. The rooftop solar industry in India is experiencing rapid growth, with the total installed capacity reaching 13.7 GW by the end of December 2024. The market is projected to continue expanding, with some estimates suggesting a market value of USD 4.46 billion by 2033. This growth is fuelled by government initiatives, decreasing both set up and overall storage costs, per unit cost savings and growing awareness of the benefits of rooftop solar. Especially both Central Government, State Governments and private sectors investments in green energy is going to boost overall capacity addition in green energy which in turn is going to contribute for the rapid growth of the company.
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Business Standard
4 days ago
- Business
- Business Standard
Raminfo share freezes in 20% upper circuit on securing this deal; details
Raminfo share price: Technology solutions provider Raminfo shares were buzzing in trade on Tuesday, June 17, 2025, with the stock hitting 20 per cent upper limit at ₹92.66 per share. Around 1:40 PM, Raminfo shares continued to remain locked in the 20 per cent upper circuit at ₹92.66 per share. In comparison, BSE Sensex was trading 0.31 per cent lower at 81,540.39 levels. Why were Raminfo shares in demand today? Raminfo shares surged in today's trade after the company announced it had secured a major order worth ₹474 crore from the Rajasthan Renewable Energy Corporation Limited (RRECL), through a consortium led by Raminfo. The order marks Raminfo's foray into smart energy solutions aimed at building a green and sustainable future. As part of the project, the consortium will handle the design, supply, erection, testing, and commissioning of Rooftop Solar (RTS) Photovoltaic Power Projects. These systems will be installed on state government buildings and those of its undertakings across Rajasthan, under the Hybrid Annuity Mode (HAM), with a total capacity of 73 MW. The contract also includes comprehensive operation and maintenance (O&M) for 25 years. L Srinath Reddy, managing director of Raminfo Limited, said, 'Raminfo Limited will hold a 51 per cent stake in this project through its SPV Raminfo Green Energy Private Limited, which will execute the project with a total capacity of 73 MW. We offer reliable, innovative and affordable solar energy solutions. Our expertise and our unmatched project execution capabilities helps us deliver world class solutions with highest standards. 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.' Raminfo formally entered the energy sector with the incorporation of Raminfo Green Energy Private Limited on May 5, 2025. The subsidiary operates in the electricity, gas, steam, and air-conditioning supply segment, focusing on solar-led sustainability. India rooftop solar sector The country's rooftop solar sector is witnessing strong momentum, with installed capacity reaching 13.7 GW as of December 2024. The market is expected to expand majorly, potentially reaching a value of $4.46 billion by 2033. This growth is driven by supportive government policies, falling setup and storage costs, increased savings per unit, and rising awareness of solar benefits. 'Especially both Central Government, State Governments and private sectors investments in green energy is going to boost overall capacity addition in green energy which in turn is going to contribute for the rapid growth of the company,' Raminfo said. About Raminfo With 30 years of experience, Raminfo is a provider of e-governance and technology-driven solutions across India. The company operates in diverse sectors including government, fintech, healthcare, smart energy, IoT, analytics, and engineering. Raminfo has made a major impact in public services through initiatives in e-governance, smart lighting, telemedicine, agro-logistics, skill development, and education. Now evolving as Raminfo 2.0, the company is leveraging AI and Machine Learning to build integrated, multi-vertical ecosystems that drive innovation and sustainable growth.
Time of India
13-06-2025
- Business
- Time of India
Contractors send notice to govt over ₹90,000cr pending dues, warn of going to court
Pune: Contractors executing critical infrastructural works across Maharashtra have sent a legal notice to the state govt on June 10, demanding payment of dues amounting to over Rs 90,000 crore. The notice sent to the chief minister, deputy chief ministers, chief secretary and heads of key departments, warned that they will approach Bombay high court if a payment schedule is not provided within a fortnight. The contractors, represented by Builders' Association of India (BAI) — a national body with over 230 branches — say dues include payments for roads, bridges, water supply, irrigation, and govt building repairs taken up for over a year. Public Works Department (PWD) alone owes them over ₹46,000 crore, association members said. "We wrote to govt in Feb but no concrete action was taken. We have now issued a formal legal notice. The situation is untenable," a senior BAI member, requesting anonymity, said. He added that it is discouraging to carry out infrastructural works when funds are not released on time. "Govt must revert within a fortnight or else we will have to take up the issue in Bombay high court," the BAI member told TOI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pinga-Pinga e HBP? Tome isso 1x ao dia se tem mais de 40 anos Portal Saúde do Homem Clique aqui Undo The notice states that non-payment of running bills has severely impacted contractors' ability to repay bank loans, leading to many accounts being classified as non-performing assets (NPAs). "This financial stress is not due to any fault of the contractors but entirely due to non-release of funds by the state," it reads. BAI said many projects under the Hybrid Annuity Mode (HAM) where semi-annual payments are promised post-completion have also been affected. "Payments are irregular and often as low as 6% to 7% of the billed amount which dissuades young contractors from entering the construction sector," the notice states. During repeated meetings with govt officials, BAI members say they have been told that budget constraints are delaying payments. What has angered the contractors is the state's massive outlay for Mukhyamantri Mazhi Ladki Bahin Yojana launched last year. "We have been waiting for our dues for works that have been completed. But here, govt is handing out Rs 1,500 monthly to 2.46 crore women spending over Rs 3,700 crore every month," the BAI member said. Text messages to the offices of the chief minister Devendra Fadnavis and finance minister Ajit Pawar remained unanswered at the time of going to press. Break-up of dues PWD I ₹46,000 crore Jal Jeevan Mission I ₹18,000 crore Water Resources Department I ₹19,700 crore Rural Development Department I ₹8,600 crore Urban Development Department I ₹1,700 crore (BAI sources) Govt is free to run welfare programmes, but it must pay contractors who have completed public infrastructural work using borrowed funds BAI Member Pune: Contractors executing critical infrastructural works across Maharashtra have sent a legal notice to the state govt on June 10, demanding payment of dues amounting to over Rs 90,000 crore. The notice sent to the chief minister, deputy chief ministers, chief secretary and heads of key departments, warned that they will approach Bombay high court if a payment schedule is not provided within a fortnight. The contractors, represented by Builders' Association of India (BAI) — a national body with over 230 branches — say dues include payments for roads, bridges, water supply, irrigation, and govt building repairs taken up for over a year. Public Works Department (PWD) alone owes them over ₹46,000 crore, association members said. "We wrote to govt in Feb but no concrete action was taken. We have now issued a formal legal notice. The situation is untenable," a senior BAI member, requesting anonymity, said. He added that it is discouraging to carry out infrastructural works when funds are not released on time. "Govt must revert within a fortnight or else we will have to take up the issue in Bombay high court," the BAI member told TOI. The notice states that non-payment of running bills has severely impacted contractors' ability to repay bank loans, leading to many accounts being classified as non-performing assets (NPAs). "This financial stress is not due to any fault of the contractors but entirely due to non-release of funds by the state," it reads. BAI said many projects under the Hybrid Annuity Mode (HAM) where semi-annual payments are promised post-completion have also been affected. "Payments are irregular and often as low as 6% to 7% of the billed amount which dissuades young contractors from entering the construction sector," the notice states. During repeated meetings with govt officials, BAI members say they have been told that budget constraints are delaying payments. What has angered the contractors is the state's massive outlay for Mukhyamantri Mazhi Ladki Bahin Yojana launched last year. "We have been waiting for our dues for works that have been completed. But here, govt is handing out Rs 1,500 monthly to 2.46 crore women spending over Rs 3,700 crore every month," the BAI member said. Text messages to the offices of the chief minister Devendra Fadnavis and finance minister Ajit Pawar remained unanswered at the time of going to press. Break-up of dues PWD I ₹46,000 crore Jal Jeevan Mission I ₹18,000 crore Water Resources Department I ₹19,700 crore Rural Development Department I ₹8,600 crore Urban Development Department I ₹1,700 crore (BAI sources) Govt is free to run welfare programmes, but it must pay contractors who have completed public infrastructural work using borrowed funds BAI Member Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Time of India
12-06-2025
- Business
- Time of India
NHAI Implements Limit of 10 Projects per Engineer to Boost Highway Quality and Safety, ET Infra
Advt By , ETInfra Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. To enhance the quality and supervision of national highway projects, the National Highway Authority of India NHAI ) has mandated 10 projects per engineer for consultancy firms. The new directive aims to ensure rigorous monitoring of construction and maintenance activities across the country's expanding highway NHAI observed that the practice of assigning multiple projects to one engineer was diluting the quality of supervision, potentially compromising the structural integrity and safety of the highways."Restricting the maximum number of projects per 'engineer' will not only enhance operational efficiency and ensure high-quality implementation as well as maintenance of highways but will also go a long way to ensure a safe, smooth, and seamless travel experience on the National Highways across the country," the authority stated in a restriction comes in response to concerns that a single designated 'Engineer' from a consultancy firm, tasked with overseeing numerous projects, is often unable to fulfill their contractual obligations primary role of this 'engineer' is to control and supervise the adherence to specifications and contract provisions, a responsibility critical to the qualitative and quantitative success of a allow for a smooth transition, consultancy firms have been given a 60-day period to make the necessary adjustments to comply with the new regulation, a statement by the Ministry of Road Transport & Highways directive includes detailed clauses that will be incorporated into the guidelines for consultancy firms involved in projects under the Hybrid Annuity Mode (HAM) and Engineering, Procurement, and Construction (EPC) clauses will cover the appointment of Independent Engineers and Authority Engineers, along with a clear delegation of their responsibilities.
Time of India
12-06-2025
- Business
- Time of India
NHAI caps projects for consultancy engineers at 10 for better quality and oversight
To enhance the quality and supervision of national highway projects, the National Highway Authority of India ( NHAI ) has mandated 10 projects per engineer for consultancy firms. The new directive aims to ensure rigorous monitoring of construction and maintenance activities across the country's expanding highway network. The NHAI observed that the practice of assigning multiple projects to one engineer was diluting the quality of supervision, potentially compromising the structural integrity and safety of the highways. "Restricting the maximum number of projects per 'engineer' will not only enhance operational efficiency and ensure high-quality implementation as well as maintenance of highways but will also go a long way to ensure a safe, smooth, and seamless travel experience on the National Highways across the country," the authority stated in a release. This restriction comes in response to concerns that a single designated 'Engineer' from a consultancy firm, tasked with overseeing numerous projects, is often unable to fulfill their contractual obligations effectively. The primary role of this 'engineer' is to control and supervise the adherence to specifications and contract provisions, a responsibility critical to the qualitative and quantitative success of a project. To allow for a smooth transition, consultancy firms have been given a 60-day period to make the necessary adjustments to comply with the new regulation, a statement by the Ministry of Road Transport & Highways said. The directive includes detailed clauses that will be incorporated into the guidelines for consultancy firms involved in projects under the Hybrid Annuity Mode (HAM) and Engineering, Procurement, and Construction (EPC) mode. These clauses will cover the appointment of Independent Engineers and Authority Engineers, along with a clear delegation of their responsibilities.
