Rays Experts to invest INR 15 Billion in Solar Energy to develop solar parks in the state of Uttar Pradesh.
The Jaipur based Company Rays Power Experts Pvt. Ltd. has confirmed their intent to make an investment by virtue of developing multiple solar parks in the state of Uttar Pradesh. The company has already submitted their EOI and project proposal to the government of Uttar Pradesh. The formal MoU will be signed on the 22nd of February 2018 in the event of the UP Global Investor Summit at Lucknow.
The company which has recently completed its single largest solar pv project of 178 MWp in the Badla Solar Park this year and has developed more than 5 solar parks in the state of Rajasthan, Haryana and Madhya Pradesh with a total executed capacity of 400 MW.
Elaborating more on this the Managing Director of the Company rays experts Mr. Rahul Gupta said that Uttar Pradesh is a resource rich state and has a lot of potential for solar power. Today for the sustainable industrial and state growth the industry needs to shift is reliance to the usage of the renewable energy sources and over and above to have access to cost effective power. Both the objectives are met when the industry gets power from these solar power plants under open access and captive. The most economic way to get this is from such solar parks being developed by us where small and medium investments / installations can be done availing all the benefits of the economies of scale. He is very hopeful to get a favourable response in the state of Uttar Pradesh also for the purchase of solar power as it has been received in other states.
The Chief Operating Officer of the Company Mr. Ashu Gupta said that that company has done all its back end exercise and geared up to provide best of the services and deliveries to the industrial and commercial segment of the state of Uttar Pradesh. The sizable experience and exposure to own and operate such multiple solar parks in various states will the key to success here and will be one of the most trusted RE power and service provider in the state of Uttar Pradesh. We expect to make our first solar park operational / generating by September 2018 and then will expand the same in various resource rich districts of state of Uttar Pradesh.
