The solar PV industry in South East Asia has been hotting up over recent years, which has inspired a number of companies to enter the market and forge a place for themselves as opportunities grow. Rays Experts is the latest company to lead a charge on the South East Asian market, as it leads a joint venture for EPC contracts in the region.
The India-based company was founded just five years ago in 2011, and has since developed projects with a total capacity of almost 400 MWp worldwide. The companys domestic wing, Rays Experts India enjoyed 8% of the solar EPC market share in India in 2014/2015 and has ambitious goals of becoming one of the countrys leading Independent Power Producers.
The new joint venture sees Rays Experts India partner with Solarinfinite Europe, to create Rays Experts Singapore, which will look to explore the potential of the solar market in South East Asia and to establish itself as a presence on the scene. And the company has big plans for Rays Experts Singapore, which it hopes will install at least 100 MW of rooftop and ground-mounted projects in Singapore, Thailand, Indonesia, Philippines and Vietnam over the next two years.
We had a significant market share in India and we want to take our learning to the next level with our entry in SEA, commented Rays Experts India CEO, Rahul Gupta. Solar in SEA has a promising future and given our technical and execution expertise, we believe this partnership will have a long term impact on the solar industry in the region. We aim to put together our economy of scale and high quality standards in the competitive environment of Singapore and other South Asian countries.