Rays Experts, a leading Solar EPC and solar park developer in India, has commissioned solar projects totaling 700 MW across the country.
These projects include ground-mounted solar panels for 230 clients – including Delhi Metro, NDMC, airports, IITs and NITs, defense establishments, industries, and major hotel chains alongside others, Rays Experts said.
Rays Experts initially focused on PPA-based projects and achieved a capacity of 240 MW in the park and 200 MW outside the park using this approach. Since then, the company has also included captive solar plant space and has emerged as one of the largest players in this segment with projects spanning across 5 states.
Rays Experts has also bagged government projects including rooftop projects for the Airport Authority of India, Delhi Metro, and others.
Rahul Gupta, MD and CEO of Rays Experts, said: “Our company has shown tremendous growth despite the COVID landscape and we are highly optimistic about our future and the future of solar in India. We now look forward to crossing the Rs 1,000 crore annual revenue landmark within the next 4 years.”
Rays Experts aims at venturing into the commercial space and achieve a growth of 20 percent by completing three more solar parks over the next financial year. Since India is estimated to have over 10 GW additional solar plants within the next two years, Rays Experts has its sights set on institutional projects and becoming a leader in residential rooftop installations by powering 330 Million homes across the country.
The company plans to invest Rs 30 crore in solar parks across 3 states. Rays Experts is currently working to raise Rs 100 crore to cater to both institutional projects and residential solar programs. It has aligned projects totaling 210 MW and is projected to reach a 1,000 MW milestone by end of this financial year.