Jumping aboard Indias solar PV boom are a whole host of companies, including a number of local enterprises that want to take advantage of the new burgeoning industry. Rays Power Infra is a perfect example of one such company, as it begins to take on bigger and bigger PV projects to add to its growing portfolio.
The most recent news coming out of the company is the launch of a 100 MW PV project in northeastern state Uttarakhan. Rays is completing the utility-scale project on a turnkey basis, after being awarded it by the Uttarakhan Renewable Energy Development Agencys (UREDA) during the bidding process for 2015-2016.
Interestingly, the project will be developed on 500 acres of rough terrain at Tehsil Bhagwanpur, so that local farmers did not have to give up their land for the project, and so that they can actually work on the development of the project. Rays is expecting that it will be commissioned by February 2017.
After successfully commissioning a 55 MW solar power PV project in Uttar Pradesh, this 100 MW project in Uttarakhan will be our biggest project, commented Rays Power Infra director of projects Pawan Sharma. Rays Power Infra is following a co-development model, i.e., we have got the necessary permission from all local authorities, and are also working with foreign investors. Since this is a mega-sized project and will require a lot of land, farmers will be getting a recurring rental income for more than 25 years by leasing their lands.
Earlier in the year Rays Power announced that it currently has a pipeline of 150 MW of solar projects in place, which it plans to develop with U.S. company Hilliard Energy.
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