New Delhi – March 12, 2016 – Shining Sun Powera 100% subsidiary of Rays Power Infra Pvt. Ltd., India’s third largest solar EPC company, has signed a 150 MW project development term sheet with independent power producer (IPP) Hilliard Energy, a company incorporated and registered under the laws of Mauritius.
Both Partners will jointly develop the 150 MW with a total investment of $130 Million. The first part of the project, a 10 MW solar project is expected to be commissioned in April, 2016 at Kalwakurthy, Mahabubnagar in Telangana. The power generated from this project will be sold to the state DISCOMS of power deficit Telangana at a fixed tariff of INR. 6.55 Per unit for 25 years. The project is expected to provide power to almost 30,000 households and save 12,000 tons of carbon-dioxide every year.’
Commenting on the development, Ketan Mehta, Director, Rays Power Infra said, “We are very excited about this new partnership which merges the fund-raising skills of Hilliard Energy with the execution capabilities of our company. We would like to achieve a target of 150 MW in the next 12 months.”
The solar power generated from this project will be sold to the state DISCOMS of power deficit Telangana at a fixed tariff of INR. 6.55 per unit (for the next 25 years). The project is expected to provide power to almost 30,000 households and save 12,000 tons of carbon-dioxide every year.
“This is an exciting opportunity to invest in high-quality solar projects that are fully contracted for the next 25 years. These projects have a good solar resource as well as Rays Power Infra’s award winning EPC Group, making these projects extremely reliable for many years to come,” said, Mr. Brent Hilliard, Director, Hilliard Energy.
About Rays Power Infra Pvt. Ltd.
Rays Power Infra (P) Ltd. An ISO 9001 & ISO 14001 CERTIFIED COMPANY, is a pioneer in the development of green technology solutions that are environmental friendly, energy efficient & cost effective. These solutions are capable of delivering a quick return on investment and helped Rays Power Infra to become 3rd Largest Solar EPC Company in India within 4 years of its inception..
RPIPL is one of the fastest growing EPC Companies in India providing Consulting-Engineering-Contracting-Commissioning services with extensive experience in the industry dedicated only to development of renewable power plants and transmission sector. Started as a brainchild of IIT Roorkee professors and students, Rays Power infra is one of the biggest and the first solar power service provider in India (on the basis of number of projects completed). Recently WCRC (World Consulting & Research Corporation) has declared Rays Power Infra as the “Most Promising Brand-Power & Energy” in a ceremony held at London.
For more please visit: http://www.rayspowerinfra.com/about-us/
About Hilliard Energy
Since its founding in 1996, Hilliard has grown from its oil and gas roots to a multi-faceted service company that has offered land management and land acquisition services to generating utilities and energy developers and has become a developer of renewable energy projects and large scale transmission lines. To date the company has developed over 2,800 MWs of spinning wind assets.
Hilliard has acquired over 2,500,000 acres of land in a quickly expanding energy market in the USA and has pursued various projects involving over 5,000,000 acres of land. Hilliard is uniquely qualified and respected for its experience and efficiency in developing wind energy projects, developing transmission lines, negotiating complex land and legal agreements, exacting precision in land titles, right-of-way acquisitions, leasing, and project due diligence. Hilliard prides itself in forming long-lasting relationships not only with its landowners and local community officials within project areas but also with energy producers throughout the United States. Our vast knowledge in site selection, land procurement, and project development uniquely qualify us for any size project or project type. We pride ourselves in taking a project from a concept to making it a reality.
For more information visit our web site at: http://hilliardenergy.com/
Company Name: Rays Power Infra Private Limited
Contact Person: Mr. Ketan Mehta
Address:D-43, 2nd Floor, Janpath Marg, Shyam Nagar, Sodala