Rays Power Infra and USA-based Hilliard Energy to develop 150 MW Solar Power Projects

Shining Sun Power a 100% subsidiary of Rays Power Infra Pvt. Ltd., has  announced that it has signed a 150 MW project development term sheet with independent power producer (IPP) Hilliard Energy.

Both Partners will jointly develop the 150 MW with a total investment of $130 Million. The first part of the project, a 10 MW solar project is expected to be commissioned in April, 2016 at Kalwakurthy, Mahabubnagar in Telangana. The power generated from this project will be sold to the state DISCOMS of power deficit Telangana at a fixed tariff of INR. 6.55 Per unit for 25 years. The project is expected to provide power to almost 30,000 households and save 12,000 tons of carbon-dioxide every year.’

Commenting on the development, Ketan Mehta, Director, Rays Power Infra said, “We are very excited about this new partnership which merges the fund-raising skills of Hilliard Energy with the execution capabilities of our company. We would like to achieve a target of 150 MW in the next 12 months.”

The solar power generated from this project will be sold to the state DISCOMS of power deficit Telangana at a fixed tariff of INR. 6.55 per unit (for the next 25 years). The project is expected to provide power to almost 30,000 households and save 12,000 tons of carbon-dioxide every year.

“This is an exciting opportunity to invest in high-quality solar projects that are fully contracted for the next 25 years. These projects have a good solar resource as well as Rays Power Infra’s award winning EPC Group, making these projects extremely reliable for many years to come,” said, Mr. Brent Hilliard, Director, Hilliard Energy.