Solar energy company Rays Power Infra is eyeing the emerging opportunity for rooftop solar power solutions while promoting the new leased approach to solar power projects.

It has recently set up a 10 mw solar power project for Haldiram Snacks in Telangana. The unit was set up within seven months and the power generated is being sold to Telangana Discoms.

The company, which offers EPC contracts executing solar photovoltaic projects, has thus far implemented more than 300 mw solar PV capacity across various States, and has a pipeline of projects of over 220 mw. This is in addition to over 65 mw of solar power generation capacity set up by the company as an Independent Power Producer.

Sanjay Gupta, Executive Director, Co-Founder, Rays Power, told Business Line, “After few years of focus as an EPC contractor and later as an IPP, we are now gearing to offer rooftop solutions, which will be a major growth area in the country.”

Even within rooftop solar power, there is opportunity to offer different models, that is either develop them as required by the customer or come out with a lease option for homes and offices. If people have roof top space, they can use it to generate power for their requirement or lease out the place for development of solar PV unit. The power generated could be sold.

The Jaipur-based company promoted by IITians and Gupta from Hyderabad, has implemented a number of projects in Telangana, Rajasthan, Karnataka and Utttarakhand. Some of the company clients include Infosys, Haldirams, RN Jewellers, Essel Group.

“We are now bidding aggressively for various rooftop tenders floated to develop projects. We see this as a major growth area apart from the distributed grid connected projects.  We have executed rooftop projects in Chandigrah on a pilot basis and are now expanding this business,” he said.

Asked about some of the recent bids where prices were quoted as low as Rs 4.35 and Rs 4.63 per unit, Sanjay Gupta said these bids have been too aggressive. “We believe for projects of 50 to 100 mw, the ideal price is about Rs 5 and above, which will be financially viable and ensure decent return on investment,” he said.