Rays Green Energy Manufacturing Pvt. Ltd. received LOI from Madhya Pradesh Government to Establish a Renewable Energy Integrated Giga Factory

Rays Green Energy Manufacturing Pvt. Ltd., a subsidiary of Rays Power Infra Ltd., is excited to announce its strategic partnership with the Government of Madhya Pradesh following the receipt of a Letter of Intent (LOI) from Hon’ble Shri Mohan Yadav, Chief Minister of Madhya Pradesh, at the Regional Industry Conclave 2024 held in Narmadapuram.

This groundbreaking collaboration will see the establishment of a Renewable Energy Integrated Giga Factory, marking a significant step forward in India’s renewable energy manufacturing sector. With an anticipated total investment of INR 1,400 crore , the project is set to become one of the largest renewable energy manufacturing hubs in the region.

Project Overview  —->The state-of-the-art manufacturing facility will cover 45 acres and will include integrated production lines designed for high-efficiency solar cells and modules.

Key highlights of the project include:

1.5 GW Solar Cell Plant –  Cutting-edge production unit focused on the manufacturing of high-performance solar cells to meet India’s growing renewable energy needs.

3 GW Solar Module Assembly Line – Next-generation assembly line, boosting India’s domestic capacity to produce solar modules at a scale that will significantly contribute to the country’s clean energy transition.

The project is expected to generate approximately 1,200 direct and indirect employment opportunities, providing a significant boost to local job creation, skill development, and economic growth in Madhya Pradesh.

Strategic Vision :  This project aligns with Rays Power Infra Ltd.’s long-term vision to establish a fully integrated renewable energy ecosystem in India. Through this initiative, Rays will enhance its backward integration capabilities, reducing reliance on imports while strengthening India’s position as a global leader in the renewable energy sector.

The project also reflects the Government of Madhya Pradesh’s commitment to fostering a sustainable and energy-efficient future, while simultaneously creating new economic opportunities for the region’s workforce.

Pawan Sharma, Whole time Director “We are deeply grateful to the Government of Madhya Pradesh for their unwavering support in making this transformative project a reality. This represents the beginning of an exciting journey, one that will not only help power a sustainable future but also contribute to the region’s economic development through job creation and skill enhancement,” said a spokesperson for Rays Green Energy Manufacturing Pvt. Ltd.

With this milestone, Rays Power Infra Ltd. continues its commitment to advancing India’s clean energy goals and driving innovation in renewable energy manufacturing. RISE WITH RAYS – Together, we can build a sustainable and prosperous energy future.