- Indian solar power project developer Rays Power Infra has launched a 100 MW solar power plant in Uttarakhand
- Foreign investors will be part of the project
- Company won the project through competitive bidding organized by UREDA in last fiscal year
Indian solar power project developer Rays Power Infra Pvt Ltd has launched a 100 MW project in the hilly state of Uttarakhand. This happens to be its biggest project so far, the previous was a 55 MW PV project in the state of Uttar Pradesh.
The company issued a statement informing that the project will come up in Bhagwanpur of Roorkee district. Rays Power won the 100 MW capacity in a competitive bidding conducted by the Uttarakhand Renewable Energy Development Agency (UREDA) in fiscal year 2015-16.
Rays Power, among others, had also participated for the Solar Energy Corporation of India’s (SECI) tender for 500 MW rooftop PV capacity (see 602 MW Bids Received For SECI Rooftop Tender).
The Jaipur headquartered company is active in developing solar parks in Rajasthan, Telangana, Andhra Pradesh and Karnataka.
For the Uttarakhand project, Rays Power says it is working on a co-development model. Director for projects Pawan Sharma stated that his company will be leasing land from farmers by paying recurrent rental income for over 25 years. Though he didn’t mention any investors, Sharma did say the company is working with foreign investors for the project.
Rays Power expects the project to be commissioned by February 2017.
The state of Uttarakhand will be setting up 500 MW of solar power plants by 2017 under the state’s Solar Policy-2013. It has allotted 181 MW of cumulative grid connected solar PV power plant capacity through competitive bidding under ‘Type-I’ of its Solar Power Policy-2013. This capacity is expected to be commissioned by October 31, 2016. Under ‘Type-I’ projects, the state government will promote setting up solar power projects for direct sale to the state discom, UPCL, through competitive bidding.