Rayzon Solar has appointed John Shelton as the company’s new Chief Financial Officer
Shelton brings more than three decades of finance experience, including leadership roles at juwi India, Enerparc Energy, and Envision Energy
He joins Rayzon Solar as it expands into perovskite-silicon tandem TOPCon module manufacturing and prepares for its proposed IPO
Indian solar PV manufacturer Rayzon Solar Limited has a new Chief Financial Officer (CFO) in John Shelton, a financial professional with over 30 years of industry experience.
Shelton joined the Gujarat-headquartered company recently, saying it marks his return to the solar industry. He previously worked with Tata Power Solar Systems Limited between 2002 and 2005 when it was TATA-British Petroleum JV Company.
Shelton also worked for over three years as Vice President-Corporate Finance and Accounts with juwi India Renewable Energies, which focused on solar, wind and bio. He moved on to Enerparc Energy, an Indian subsidiary of Europe’s Enerparc AG, as its CFO.
Before joining Rayzon, Shelton headed Finance and IT at Envision Energy as its Country Head. At Rayzon, he will be leading the company’s financial strategy as the Indian manufacturer expands its manufacturing footprint to produce tandem solar modules. It recently entered a 5 GW partnership with US-based Caelux to commercialize perovskite-silicon tandem TOPCon modules (see Caelux, Rayzon, Navitas Target 10 GW Tandem Solar In India).
The company is also gearing up for a public issue, having filed draft initial public offering (IPO) papers with SEBI to raise approximately INR 15,000 crore. Of this, it plans to invest INR 12,650 crore towards a 3.5 GW TOPCon solar cell manufacturing facility through Rayzon Energy Private Limited (REPL).
