Rays Power to set up 50 MW solar park in Andhra Pradesh

Solar power developer Rays Power Experts Thursday announced plans to set up a 50 MW solar power generation park, within six months, in Andhra Pradesh.

"This includes the complete infrastructure designing of the project, its technical and engineering ground work, installation and commissioning. The company has already invested Rs.20 crore of the Rs.300 crore, the overall project cost," Rays Power said in a release here.

"Independent solar power parks are a brand new vertical we are entering into. We aim to complete this project by January 2015 and then gradually move on to establish similar solar parks in other parts of the country," said Rahul Gupta, director, Rays Power.

The company is currently recording a turnover of Rs.400 crore and aims to raise it to Rs.1,000 crore by the end of the fiscal, the statement said.

Started in 2009, Rays Power is India's third largest company in the sector in terms of megawatt executed. It has a solar power EPC (engineering, procurement and construction) order book of 110 MW solar projects and catering to 60 clients across India, the statement said.