Rays Power Infra Lights Up Q1 with ₹833 Crore Project Wins

Rays Power Infra, a key player in India’s solar Engineering, Procurement, and Construction (EPC) service sector and a company eyeing an Initial Public Offering (IPO), marked a strong start to the fiscal year by announcing the acquisition of new projects worth ₹833 crore in the April-June quarter of 2024. This significant win translates to over 680 megawatts (MW) of additional capacity being added to the company’s existing portfolio, underlining its commitment to growth and expansion within the renewable energy sector.

“Securing these projects is a major milestone as we strive to achieve our quarterly targets and long-term goals,” commented Pawan Sharma, Whole-Time Director of Rays Power Infra. He further emphasised the company’s unwavering dedication to delivering high-quality projects while maintaining its growth trajectory to reach its ambitious goals.

While details regarding the specific nature and locations of these newly acquired projects remain undisclosed, the announcement signifies a strategic move by Rays Power Infra to solidify its position in the dynamic solar EPC market. This aligns perfectly with their broader business objective of fostering the development of India’s renewable energy capacity.

The successful acquisition of these projects strengthens Rays Power Infra’s reputation as a frontrunner in the Indian solar EPC space. It also underscores the growing demand for clean and sustainable energy solutions in the country. The company’s strategic approach to project selection and unwavering commitment to quality delivery positions them well to capitalise on this burgeoning market and contribute significantly to India’s renewable energy goals.

About Rays Power Infrastructure Limited

Established in 2011, Rays Power Infra was one of the early movers in the solar park regime and has now grown into a well-established player in turnkey solar engineering, procurement, and construction (“EPC”) services, catering to the country’s increasing demand for renewable energy. The company is one of the leading integrated solar power companies in India, having implemented solar power projects of 1,207 megawatts peak (“MWp”).

The company’s main business operations include (i) turnkey solar project development by way of land aggregation, obtaining connectivity approvals, bay allocation, facilitating captive arrangements and enabling the execution of private power purchase agreements (“PPAs”) between the buyer and the seller and providing EPC services (“Turnkey Solar Services”).

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