ITI Limited on Thursday said it has received Letter of Intent worth Rs. 37.5 crore from Bihar Renewable Energy Development Authority for installation of solar street light systems.
ITI Limited has received a Letter of Intent worth Rs. 37.5 crore from the Bihar Renewable Energy Development Authority for the installation of solar street light systems.
ITI Limited on Thursday said it has received Letter of Intent worth Rs. 37.5 crore from Bihar Renewable Energy Development Authority for installation of solar street light systems.
In a statement, the company said, ITI Limited’s Naini unit has received the Letter of Intent (LOI) for design, supply, installation, testing, and commissioning with Comprehensive Maintenance Contract (CMC for five years) including remote monitoring system of 2,800 numbers of solar streetlight systems from DPRO Katihar amounting to Rs. 8.58 crore under Mukhyamantri Gramin Solar Street Light Yojana.
The Naini unit also received another LOI amounting to Rs. 28.94 crore, it said.
"These systems are to be installed under supervision of Bihar Renewable Energy Development Authority (BREDA) and the major components of the solar street light systems are solar PV module, solar batteries, LED luminaries, mounting structures, Balance of System (BOS)," the company said.
Rajesh Rai, Chairman and Managing Director, ITI Limited, said, "This project is a testament to our commitment to sustainability and creating vibrant rural environments. The project adds to the aesthetics and provides cutting-edge lighting solutions for a greener tomorrow."
According to ITI Limited, its Naini unit is already manufacturing solar panels which can harness solar power up to 400W.
In terms of yearly production, Naini Unit manufactures solar panels, which can harness 18 Mega Watt (MW) of solar energy that comes to around 55,000 panels per year. With the enhanced capacity (500 MW), the unit will start manufacturing around 15,00,000 panels per year.