Rays Experts Commissions 700 MW Solar PV Projects Pan India

Solar EPC and solar park developer Rays Experts said that it has commissioned solar projects pan India with an aggregate capacity of about 700 MW.

These projects include 440 MW capacity of solar plant inside the solar park, 210 MW solar plant outside the park, 49 MW rooftop solar installations for Commercial & Industrial (C&I) customers, and 4 MW units across 8,400 homes.

The company said that it has installed ground-mounted solar panels for 230 clients including Delhi Metro, NDMC, airports, IITs and NITs, defense establishments, industries, and major hotel chains alongside others.

Initially, it focused on PPA-based projects and achieved a capacity of 240 MW in the park and 200 MW outside the park using this approach.

Commenting on the development, Rahul Gupta, MD & CEO, Rays Experts said, “our company has shown tremendous growth despite the COVID landscape and we are highly optimistic about our future and the future of solar in India. Having achieved this milestone, we now look forward to crossing the Rs 1,000 Cr annual revenue landmark within the next 4 years.”

Rays Experts aims at venturing deeper into the commercial space and achieve a YoY growth of 20 per cent by completing 3 more solar parks over the next financial year. Since India is estimated to have over 10 GW additional solar plants within the next 2 years, the company has its sights set on institutional projects and becoming a leader in residential rooftop installations by powering 330 million homes across the country.

The company also plans on investing Rs 30 crore in solar parks across 3 states. It is currently working to raise Rs 100 crore to cater to both institutional projects and residential solar programs. It has already aligned projects totaling 210 MW and is projected to reach a 1,000 MW milestone by end of this financial year.