Rays Power Infra, a solar player with a commissioned portfolio of 1.30 GWp, has forayed into the water engineering, procurement, and construction (EPC) business. The company has won the Har Ghar Jal Yojana project in Uttar Pradesh worth Rs 650 crore, which aims to provide clean drinking water to over one crore households by March 2024.
Rays Power Infra has already made a name for itself in the solar power sector, having developed best-in-class solar projects in India and overseas, following R&D, testing, and commissioning. The company has initiated the development and execution of solar parks and solar plants aggregating to 2.00 GWp in the next 24 months. The organisation is also developing large-scale solar parks in Rajasthan, its home turf.
Ketan Mehta, MD & CEO, Rays Power Infra, said, “We see a synergy between our solar power and water businesses, and we aim to grow both verticals with equal focus and capital allocation. We have already completed one project in the water EPC business last year, which gives us the confidence to take on a much larger projects like Har Ghar Jal Yojana. We have paid off all our debts through the sale of assets last year and have substantial financial resources to expand into new sectors.”
Sanjay Gupta, director, Rays Power Infra, said, “Our company’s strategy has always been to create a sustainable model of growth and development, and this new business venture is a testament to that. We believe that our experience and expertise in the solar power sector will help us in the water EPC business as well. We are looking forward to bagging more such projects and contributing to the betterment of society.”
