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Rays Power Infra Pvt Ltd, a solar energy company, has commissioned its 11.5-MW solar PV project in Telangana.
The Rs 77-crore project is spread over 46 acres in Mahbubnagar district. Work was started in January and completed in three months. It is part of the State’s Solar Park Policy thrust to procure 500 MW through a tariff-based competitive bidding process.
Power from the project will be supplied to the State discoms. It has been developed for Shining Sun Powers, Mumbai, also owned by Rays Power Infra, said Ketan Mehta, CEO.
Mehta told BusinessLine that the company has so far installed 50 MW projects in Telangana. The present project is one of the fastest to be commissioned in the country and executed by Rays Power on a turnkey basis. The company raised 70 per cent of the funds through financial institutions and 30 per cent were from internal accruals.
The New Delhi headquartered company is close to commissioning another 15 MW solar PV project in the coming months.
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