Rays Power Secures Two Projects Worth Rs. 833 Cr Totaling 680 MW

Rays Power Infra, a solar EPC solutions provider recently acquired new projects worth Rs. 833 crores in the April-June period 2024. These projects are distributed in two states and can add over 680 MW to the company’s expanding portfolio.

Rays Power Infra continues to focus on strengthening its solar park as well as EPC divisions to drive business expansion. The company leadership expects the company to achieve over 50% growth in both revenue and profitability this financial year compared to the previous year.

Established in 2011, Rays Power Infra is one of the early movers in the solar park regime. It also provides turnkey solar engineering, procurement, and construction (EPC) services. The company has implemented 1,207 mega-watts peak (MWp) of solar power projects.

The company recently announced the establishment of a wholly-owned subsidiary dedicated to the manufacturing of solar modules, solar cells, and Battery Energy Storage Systems (BESS) at a gigawatt scale. The new subsidiary will focus on setting up large-scale manufacturing facilities, and the company is currently evaluating land options and incentive policies across various states. Details of the plans and the quantum of investment will be disclosed soon.

Ketan Mehta, Managing Director and CEO of RAYS Power Infra commented, “We are thrilled to announce the acquisition of these significant projects, reinforcing our commitment to sustainable growth and excellence in the solar EPC sector. This achievement is a testament to our strategic vision and the relentless efforts of our team. We are confident that our focus on innovation and quality will continue to drive our success and contribute to the nation’s renewable energy needs.”