Rays Future Energy, a subsidiary of Rays Power Infra, is executing 60MW of capacity under open access systems in Karnataka, which will be completed by the end of the current fiscal year. The company has identified over 50 highly-rated private commercial and industrial consumers to whom this energy will be offered, providing them access to power at reduced costs sourced from solar parks being developed by Rays Power Infra, one of India’s leading solar EPCs.
The Indian solar sector witnessed rapid capacity addition in the last two years due to a favourable policy environment and substantial public sector support; however, the current year has seen a slowdown in the demand for capacity-building at the utility scale for selling to central and state power distribution utilities. Independent Power Producers like Rays Future Energy and Rays Power Infra are therefore directly reaching out to industrial and commercial consumers by installing distributed solar power solutions (like rooftop plants) or through direct supply under open access-based models.
Ketan Mehta, CEO, Rays Power Infra Pvt. Ltd., said, “The open access model is perfect for regions like Karnataka, where the grid is robust, the demand for power is high, and there is going to be substantial demand for energy that will continue to increase. Open access becomes a win-win business model for all stakeholders as private consumers get cheaper power, thereby boosting their productivity and competitiveness, developers get returns on their investments, and it also contributes to the government’s solar mission of having 100 GW of solar power capacity by 2022.”
