Rays Power Experts Raises Rs 20 Cr Equity Funding

Rays Power Experts, a leading full-service solar park developer in India, has raised INR 200 million in equity funding. The lead advisor for this transaction was Swastika Investmart Limited. The funding round included investments from prominent investors such as the Sunil Singhania family office, Vyom Wealth Advisors, Lalit Dua of Rajasthan Global Securities, Vineet Arora of NAV Capital, and Moheet Agarwal.

The funding infusion of capital will enable Rays Power Experts Pvt Ltd. to expand its footprint and undertake new domestic and international solar projects. Currently, the company has executed 6 solar parks with more than 300 ground mounted projects in it, making it one of the largest solar park developers in India with 95% market share in open access market of Rajasthan. It has executed numerous Solar EPC projects for C&I segment, and has a presence across 10 states in India mainly Rajasthan, MP, Haryana, Delhi along with an international presence in the UK and Sweden. The company is also planning to expand into other European countries, UAE, et al with this infusion of funds.

Sunil Nyati, Managing Director of Swastika Investmart Ltd., commented, “Their impressive track record and ambitious plans for expansion make them a key player in the renewable energy sector. Their esteemed clients include specific properties of Taj Hotels Jaipur, Radisson Blu, Marriott Hotel, The Leela, NHPC, SJVNL, Borosil, Inox Air, Jaquar, Airport Authority, Delhi Metro, and many more. This funding will allow them to capitalize on new opportunities and further their mission of promoting sustainable energy solutions.”

Rahul Gupta, Founder and Director of Rays Power Experts Pvt. Ltd, commented, “We are thrilled to secure this funding at such a crucial time. This capital will accelerate our expansion into new projects and international markets. Swastika Investmart’s invaluable support and expertise were key in securing this investment. We aim to continue leading in renewable energy solutions with these funds.” With a vision of bolstering India’s vision of embracing a healthier energy mix, Rays Power Experts has successfully installed 800MWs of solar solutions across India.

Rays Power Experts has executed its single largest project of 187 mw in Dhadla Raj for its client Rising Sun.

The Indian solar EPC (Engineering, Procurement, and Construction) industry has experienced a robust CAGR of 15.4% from 2016 to 2024. As the world’s 5th largest solar power generator, India is ambitiously targeting 270 GW of solar power generation by 2030.