Rays Power Infra, a leading figure in the renewable energy sector, has announced its acquisition of three significant solar projects with a combined capacity of 520MWp. These projects are a testament to the company’s expanding influence and commitment to sustainable energy, having been awarded by two Central Public Sector Undertakings (CPSUs) and one international renewable energy developer.
The company’s latest ventures into the renewable markets of Gujarat and Assam mark its operational expansion to 14 states throughout India. This strategic move not only highlights Rays Power Infra’s pivotal role as an Engineering Procurement Construction (EPC) service provider but also its dedication to supporting India’s green energy objectives.
Rays Power Infra is also actively seeking additional opportunities in the solar EPC domain, with bids submitted for projects in various locations including India, Mauritius, Liberia, Bangladesh, and Sierra Leone. The total value of these bids exceeds Rs 3,400 crore, reflecting the company’s ambitious growth plans and commitment to bolstering renewable energy infrastructure worldwide. Although the financial details of the newly secured projects were not disclosed, Rays Power Infra’s aggressive bidding strategy indicates its confidence in securing more projects and enhancing its position in the market.
Market research suggests that in India, the investment cost for establishing a 1MW solar power plant, inclusive of panels, ranges between Rs 4 to 5 crores. Excluding the panels, the cost is estimated to be between Rs 1.5 to 1.7 crores, subject to various factors that could influence the initial investment.
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