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Rays Power Infra Secures Major Contracts, Expands Presence in Gujarat and Assam Solar Markets, and Eyes Further Growth

Mumbai, 4 March, 2024: Rays Power Infra Limited, a leading player in the renewable energy sector, proudly announces the acquisition of three orders in its Solar EPC Business totalling 520 MWp, two from a renowned CPSU (Central Public Sector Undertaking) and another from a global renewable energy developer. These orders marked the Company’s entry into the Gujarat and Assam markets. This also positions the company as one of the key EPC players in 14 States in India.

The combined order value for these projects, underlines Company’s commitment to advancing sustainable energy solutions. This strategic move not only reinforces the company’s foothold in the renewable energy landscape but also strengthens its relationship with the stakeholders in the industry. 

Looking ahead, the Company is actively pursuing further growth opportunities. The company has submitted multiple bids for solar EPC projects in India, Mauritius, Liberia, Bangladesh and Sierra Leone, with a cumulative value exceeding 3,400 crores and outcome of which is awaited. This underscores Rays Power Infra’s dedication in contributing to the growth of green energy, and supporting the energy transition in diverse regions.

Rays Power Infra remains steadfast in its mission to contribute to the advancement of sustainable energy, and play a pivotal role in achieving ambitious renewable energy targets.

Disclaimer: RAYS POWER INFRA LIMITED, is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations to make an initial public offer of its Equity Shares and has filed the draft red herring prospectus dated December 29, 2023 (the “DRHP”) with the Securities and Exchange Board of India (“SEBI”) on December 30, 2023 and subsequently filed with BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”). The DRHP is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the Stock Exchanges i.e. BSE at www.bseindia.com and NSE at www.nseindia.com, on the website of the company at www.rayspowerinfra.com and is available on the website of the BRLM i.e. Anand Rathi Advisors Limited at www.anandrathiib.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” on page 36 of the DRHP. Potential investors should not rely on the DRHP for any investment decision. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act, 1933 (the “Securities Act”) or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold only outside the United States in ‘offshore transactions’ as defined in, and in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdictions where such offers and sales are made. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.

 

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