Rays Power Experts completes 14 new solar power projects in March 2014

As committed earlier, Rays Power Experts, a global solar power development and EPC company has successfully commissioned all its projects ending 31st March 2014, reaching a total of 85 MW of solar power capacity. This has been made possible through the commissioning of 14 additional projects ended 31st March 2014, making it a total of 56 projects till date. This feat achieved by the merely three year old company is also a commendable development for the solar industry overall.

Rays Experts is the only company in Rajasthan to have effectively commissioned the solar projects for the Renewable Energy Certificates (REC) model this March making it the single largest solar company in the state this year. 

Mr. Rahul Gupta, Director, Rays Power Experts said, “The main reason that has worked in the industry’s favour is restoring confidence of the investors in the REC model. The ministry has taken appropriate steps by assuring the purchasing of unsold RECs soon after the end of model code of conduct. The solar power industry’s numerous letters written to the ministries urging them to safeguard the unsold RECs have created tangible pressure on authorities and things seem to be getting back on track.”

“Moreover, the price of RECs are also deemed to decrease, which has led to push in sales and hence the market has started to show signs of recovery,” he added.

The solar industry is slowly and steadily gaining a strong foothold not only in urban areas but even in small cities and towns. People now know the importance of the industry for generating cheap electricity through sunlight which can be used for starting a fan, a bulb or even charging a mobile phone.

Rays Experts is now starting 2 new parks in Rajasthan for 100 MW of capacity in the following months. It has also signed a whopping 25 MW project for an IPP in March 2014 which shall be commissioned by 30th June. Moreover for the VGF (Viability Gap Funding) based model, the company has set up solar parks across the country to take care of solar projects of 750 MW capacity. In these parks, dedicated infrastructure and transmission line will be provided to the investors, helping them combat land related and local issues as well as conversion related problems, thus ensuring fast bank finance and speedy execution. “We always strive to develop more and more projects in the most efficient manner, and hence our concept of solar parks for both REC and VGF is a win-win situation for both developers and us. The permission to pool together the power under the VGF is a great incentive from developers,” said Mr. Gupta.