Rays Power Experts today announced its plans to set up 50 mw solar power generation park within six months in Andhra Pradesh.
Rahul Gupta, Director, Rays Power Experts, in a statement said, “Independent Solar Power Parks are a brand new vertical we are entering into and this project marks the first step towards this direction. We aim to complete this project by January 2015 and then gradually move on to establish similar solar parks in other parts of the country.”
The company has invested Rs 20 crore of the Rs 300 crore overall project cost.
Rays Power Experts will be funding the solar park project from its own internal accruals.
The company is currently recording a turnover of Rs 400 crore and aims to raise it to a Rs 1,000 crore by the end of the fiscal, the statement said.
Rays Experts said it was venturing into new verticals of Solar Roof-top models and similar offerings.
The company has solar power EPC order book of 110 mw solar EPC projects and catering to 60 clients across India.