Rays Power bags Rs.240 crore orders

Rays power Infra Pvt. Ltd., one of the biggest solar Engineering, procurement & Construction (EPC) companies in India, has bagged 37 megawatt (MW) solar EPC projects worth Rs.240 crores in Telangana and Karnataka.

It won solar capacity projects at an average Power Purchase Agreement (PPA) price of Rs.6.7 per unit.

Five MW will be set up in Karnataka for a Gujarat-based organisation at a competitive price of Rs.7.1 per unit. The remaining 32 MW will be implemented in Telangana. Of which, 10 MW was won by the Rays Power Infra as an IPP (Independent Power Producer) and the rest 22 MW will be implemented on behalf of three different organisations at an average PPA price of Rs.6.6 per unit.

"We look forward to tap newer opportunities in the power business and thereby, further enhance our business portfolio," Sanjay Gupta, director, Rays Power Infra, said in a statement here Monday.

"The renewable energy sector has received the much needed boost by the government and the decision makers. The Ministry of New and Renewable Energy scaled-up the Jawharlal Nehru National Solar Mission targets to 100 GW. These are exciting times for the sector and we hope to make India a power surplus by 2022," he added.