New Delhi: RAYS Power Infra, a turn-key solar EPC service provider, on Tuesday announced the establishment of a wholly-owned subsidiary to manufacture solar modules, solar cells, and battery energy storage systems (BESS) at a gigawatt scale.
According to the official press release, the new subsidiary will focus on setting up large-scale manufacturing facilities. At present, the company is evaluating land options and incentive policies across various states. It added that the details of the plans and the quantum of investment will be disclosed soon.
Ketan Mehta, managing director of RAYS Power Infra, said that this initiative represented a crucial backward integration step for the company.
“Our existing EPC and development businesses will provide support to our solar module and cell manufacturing efforts. We have identified a significant quality gap in the current market offerings, and it is imperative to bridge this gap with superior products. Hence, we are embarking on this ambitious journey,” Mehta added.
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Sanjay Gupta, executive director, Rays Power Infra, said that the company is actively finalising technology-sharing agreements with renowned global technology leaders.
Gupta added that this partnership would enable the company to leapfrog in creating products that meet and exceed global standards and is set to mutually benefit and provide their partners with a ready market through the company’s extensive network.
