Rays Power Infra on Monday said that it will set up solar projects of 1,800 MW capacity entailing an investment of Rs 9,140 crore.
Rays Power Infra has signed a Memorandum of Understanding (MoU) with the Rajasthan government in the presence of Chief Minister Ashok Gehlot to build an avant-garde PV Photovoltaic (PV) Power Station (also known as a solar power plant), a statement said.
The solar park will generate 1,800 MW of renewable power, with two projects of 300 MW each and a 900-MW project. The entire project, the largest in the country, is estimated to be worth Rs 9,140 crore, it informed.
Pawan Sharma, Director- Rays Power Infra, said in the statement, "This MoU is an instrumental step towards eco- friendly tomorrow, and we are pleased to be a part of this initiative."
Mayank Sharma, President – Rays Power Infra, said in the statement, "This MoU will serve as a record of our agreement on a common ground and our shared understanding of a common course of action. This MoU will result in an environment that is welcoming to investors, a market that is always expanding, and growth opportunities that allow for healthy competition among various enterprises to advance Rajasthan's economic stature."
Rays Power Infra is one of the leading solar power players in the country with a commissioned portfolio of 1.30 GWp.
The company has initiated the development and execution of solar parks and solar plants aggregating to 2.00 GWp with expected commissioning in the next 24 months contributing to the power requirements of the consumers.
It is also developing large scale solar parks in Rajasthan, which will be utilised for setting up utility-scale and C&I projects.
The company has a global presence having installed large-scale solar projects in Vietnam and Bangladesh. Rays Power Infra is expanding its presence across Asia and MENA (Middle East and North Africa) regions.