Diversified business group Lord’s Mark Industries on Tuesday announced its entry into the solar-based lighting space and said it will invest Rs 900 crore in a street light project in Bihar.
Bihar is the first state to implement the world’s largest solar-based lighting project, which will be implemented through BREDA (Bihar Renewable Energy Development Agency), the company said in a release.
The Agency has been tasked with developing schemes on non-conventional energy sources in the state, and is the nodal agency for remote village electrification, it stated.
As part of the three-year project, which entails a total investment of Rs 900 crore, Lord’s Mark has expressed the ability to set up 1-lakh street lights at an investment of Rs 300 crore in the first year, the company said.
Incorporated in 1998, Lord’s Mark Industries manufactures a wide range of renewable energy and healthcare products.
With this project, Bihar will become the first state in India to have the world’s biggest solar street light system based on the company’s in-house developed RMS (Remote Monitoring System) with its R&D team and powered by AI for transmitting data through a SIM card, it said.
Lord’s Mark also said it is the sole channel partner to Philips India for the development of such projects in the government sector.
“We are certain that this master project will be the harbinger of solar electrification in all parts of the country. We are proud to have tied up with the world’s largest electronics conglomerate Philips to implement the project that will cover remote parts of Bihar,” said Sachidanand Upadhyay, Founder, Lords Mark Industries.
Renewable energy accounts for 26.5 per cent in the total installed generation capacity in the country, as per the company.
It said that most states have renewable energy agencies such as BREDA in Bihar, MEDA in Maharashtra and UPEDA in Uttar Pradesh, which implement solar systems.
“We believe this project will be a game-changer for renewable energy systems in other states. We are honoured to have Lord’s Mark Industries, Philips as partners for implementing this colossal project,” said Khagesh Choudhary, Assistant Director, BREDA.