Solar energy firm Rays Power Infra hopes to commission 100 megawatt of solar power projects under the engineering, procurement and construction (EPC) segment across the country by March 2017, said its senior official.
Speaking on the sidelines of an event announcing the commissioning of its 25 MW Solar PV park in Telangana, the company’s executive director Sanjay Gupta said, “We are expected to complete 100 MW of solar projects for our clients by the end of March 2017. Also, we will be commissioning two separate EPC projects, 9 MW and 10 MW in the next one or two months.”
In the last two years, the company had commissioned around 390 MW of EPC solar projects. Through its subsidiary, Rays Solar Kart, the company is planning to tap the roof-top segment and it has already completed projects for IT companies like Infosys in Hyderabad.
“We are in talks with several IT as well as pharma companies for setting up roof-top solar power projects for captive consumption. IT companies are generally interested in such investments as it falls under their corporate social responsibility spends,” said a company official seeking anonymity.
The company is also in talks with several investors to raise funds for its projects. It had earlier partnered with Hillard Energy to jointly develop 150 MW of solar power facility, entailing an investment of $130 million (about Rs 870 crore). In the first phase, a 10 MW solar project was commissioned at Kalwakurthy in Telangana and the power generated was sold to the power distribution companies.