Rays Power Infra has received an order for a 300MW renewable energy project from one of India’s Maharatna public sector undertakings, adding Rs19.1bn ($208.6m) to its existing order book.
The project will be executed under the company’s co-development business model, covering interstate transmission system connectivity, land acquisition, and full engineering, procurement and construction (EPC) delivery.
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It will be located in one of Rays Power Infra’s upcoming renewable energy parks in Karnataka and is scheduled for commissioning within three years.
Solar modules for the project will be produced using solar cells supplied by the company’s new cell manufacturing facility being built in Madhya Pradesh, under its Rays Green Energy subsidiary.
Under its co-development business model, Rays Power Infra’s typical responsibilities include land aggregation and securing both interstate and intrastate grid connectivity where required.
The company also supports regulatory approvals such as captive arrangements, bay allocation, connectivity permissions and power purchase agreements tailored to customer requirements via a special purpose vehicle (SPV).
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By GlobalDataOnce these are established, the SPVs are transferred to customers with EPC and operations and maintenance undertaken as per agreements.
As of 31 July 2025, Rays Power Infra reported a diversified renewable energy portfolio of nearly 11.67 gigawatt-peak (GWp) across wind, solar and hybrid projects. This includes around 1.77GWp of commissioned capacity, 4.03GWp of contracted capacity, 3.57GWp under development and 2.3GWp at advanced stages across 13 states and one union territory in India.
Rays Power Infra managing director Ketan Mehta said: “This project will set a new industry benchmark for how renewable power developers and central PSUs [public sector undertakings] can collaborate to deliver large-scale renewable projects in a fast and efficient manner.
“At Rays Power, we are committed to developing future-ready infrastructure to accelerate India’s renewable energy transition in partnership with the nation’s key central PSUs.”
Rays Power Infra whole time director Pawan Sharma said: “This project reflects our ability to combine advanced engineering, end-to-end project development expertise and execution capabilities.
“From land development and ISTS [Inter-State Transmission System] connectivity to EPC delivery and deployment of domestic content requirement-compliant modules, our team is committed to ensuring that this installation sets a new benchmark in reliability, performance and timely commissioning.”
In December 2024, Rays Power Infra signed a memorandum of understanding with the Rajasthan Government in India to develop a 500MW solar park.
