Tuesday, July 9, 2024

RAYS Power Infra Announces Creation of 100% Owned Subsidiary for Gigawatt-Scale Solar and BESS Manufacturing

July 09, 2024 — RAYS Power Infra, a leading name in the renewable energy sector, is proud to announce the establishment of a wholly-owned subsidiary dedicated to the manufacturing of solar modules, solar cells, and Battery Energy Storage Systems (BESS) at a gigawatt scale. This strategic move marks a significant step forward in the company's commitment to advancing clean energy solutions.


The new subsidiary will focus on setting up large-scale manufacturing facilities, and the company is currently evaluating land options and incentive policies across various states. Details of the plans and the quantum of investment will be disclosed soon, highlighting RAYS Power Infra's commitment to substantial and impactful investment in this venture.


Speaking on this momentous occasion, Mr. Ketan Mehta, Managing Director of RAYS Power Infra, stated, "This initiative represents a crucial backward integration step for RAYS Power Infra. Our existing EPC and development businesses will provide robust support to our solar module and cell manufacturing efforts. We have identified a significant quality gap in the current market offerings, and it is imperative to bridge this gap with superior products. Hence, we are embarking on this ambitious journey."


In addition, RAYS Power Infra is exploring partnerships with global technology leaders to enhance its product offerings. "We are actively finalizing technology-sharing agreements with renowned global technology leaders. This will enable us to leapfrog in creating products that meet and exceed global standards. This partnership is set to be mutually beneficial, providing our partners with a ready market through RAYS Power Infra's extensive network," Mr. Sanjay Gupta, Executive Director Rays power infra 


RAYS Power Infra is committed to making significant strides in the renewable energy sector, ensuring the delivery of high-quality, reliable, and innovative energy solutions.


About RAYS Power Infra :Established in 2011, we have been one of the early movers in the solar park regime and have now grown into a well-established player in turnkey solar engineering, procurement and construction (“EPC”) services, catering to the increasing demand for renewable energy in the country. We are also one of the leading integrated solar power company in India with implementation of solar power projects of 1,207 mega-watts peak (“MWp”). On the back of our strong regulatory understanding of State laws for land acquisition and our ability to liaise with State land authorities, we have established a track record of acquiring over 5,700 acres of land for our customers across India. We offer a consultative approach to our customers’ solar energy needs and capabilities, which enables us to provide customized solutions to meet their requirements.


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