Good news coming from India’s EPC companies

Between January and March of this year, solar EPC company RaysExperts added 30 MW capacity to Rays Solar Park, located in Kolayat in the Bikaner district of the Indian state of Rajasthan, which is expected to generate 50.67 million kWh of electricity in the first year.

Located in the highest irradiation zone in India, the new commissioned projects have led to Rays Solar Park’s 100% capacity expansion, with the financial support coming from local banks such as SBI, Kotak Mahindra, HDFC bank.

“Challenges that we were able to overcome pertained to the scarcity of skilled labour in such a remote area, heavy dust storms, sandy and loose soil land surface, lack of internet and other basic amenities. We believe this will restore the falling confidence regarding solar amongst customers,” said Rahul Gupta, Rays Experts CEO, adding that this indeed marks a watershed moment for the company.

In the recently released Solar EPC and O&M Provider Q1 2017 by IHS Technology, Indian solar energy firm Rays Power Infra Pvt Ltd ranked among the top 10 EPC companies outside the U.S. and China.

Though India’s PV demand continues to grow, the combined market share of its five largest EPC companies has shrunk from 63% to 46%, owing to the market’s overall growth, says Rays Power Infra.

The rankings saw no change at the top, with TBEA and First Solar keeping the lead roles among the EPC companies globally. However, according to Ray Power Infra, they are losing market share, having installed less than 100 MW more in 2016 as compared to 2015, while at the same time as global non-residential PV demand grew by 38%.

Commenting on the IHS Technology’s rankings, Ketan Mehta C.E.O., Rays Power Infra CEO said: “Though China and the United States remain key markets for the largest PV projects, India is surfacing as a new growth market outside of those regions. Rays Power Infra ranks at number 5, followed by Juwi, Mahindra Susten, Conergy, ACCIONA and TSK across India, Japan, Thailand, UK, Australia, Rest of Americas, Rest of Europe, rest of Asia Pacific and rest of Africa and the Middle East.”