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Rays Power Infra Limited has been awarded a 300 MW renewable energy project by a Maharatna PSU, adding INR 1,912 crore to its order book of over INR 8,000 crore. The project, to be built in Karnataka under the Co-Development Business Model, will cover land acquisition, ISTS connectivity, and complete EPC execution. Modules will be sourced from the company's upcoming solar cell facility in Madhya Pradesh. With a diversified portfolio of 11,665 MWp and ongoing expansion, Rays Power continues to strengthen its position in India's renewable energy sector.
Rays Power Infra Limited has secured a 300 MW renewable energy project from one of India's Maharatna public sector undertakings. The project will add INR 1,912 crore to the company's existing order book, which already exceeds INR 8,000 crore. It will be developed under the company's Co-Development Business Model, covering land acquisition, interstate transmission system (ISTS) connectivity, and complete engineering, procurement, and construction (EPC) execution. The installation will be set up in one of Rays Power's upcoming renewable energy parks in Karnataka and is expected to be commissioned within three years. Advertisement
The project will use modules made from solar cells sourced from Rays Power's upcoming cell manufacturing facility under its subsidiary, Rays Green Energy, currently under construction in Madhya Pradesh.
According to Ketan Mehta, Managing Director of Rays Power Infra, the project is expected to establish a benchmark for collaboration between renewable energy developers and central PSUs in delivering large-scale projects efficiently. He highlighted the company's focus on building infrastructure that supports India's renewable energy transition.
Pawan Sharma, Whole Time Director, said the project demonstrates the company's capability to combine advanced engineering, comprehensive project development expertise, and execution. He added that from land development and grid connectivity to EPC delivery and deployment of domestic content requirement (DCR)-compliant modules, the team is committed to delivering a reliable and high-performance installation on time.
Rays Power Infra specializes in utility-scale renewable energy solutions, primarily solar, with expertise in developing ready-to-build infrastructure under its Co-Development Business Model and providing EPC services. The company is among the leading players in India's solar sector and is recognized as a pioneer of the Co-Development approach in the country.
Currently, Rays Power Infra has a diversified renewable energy portfolio of around 11,665 MWp, including solar, wind, and hybrid projects. As of July 31, 2025, the company had commissioned approximately 1,771 MWp. Its contracted capacity stands at 4,029.43 MWp, under-development capacity at 3,565.00 MWp, and 2,300.00 MWp at advanced stages across 13 states and one union territory in India.
The company has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and stock exchanges for a proposed initial public offer of its equity shares, subject to approvals and market conditions. The DRHP is accessible on the company website, SEBI portal, lead managers websites, and stock exchange platforms. Potential investors are cautioned about the high-risk nature of equity investments, as detailed in the DRHP.
Source Reuters
5th Jun, 2025
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