Rays Power Infra Limited has secured a 300 MW renewable energy project from a Maharatna public sector undertaking, adding Rs 19.12 billion to its order book, which now exceeds Rs 80 billion.

The project will be developed under the company’s co-development business model and will involve land acquisition, interstate transmission system connectivity and full engineering, procurement and construction execution. It will be established within one of Rays Power’s upcoming renewable energy parks in Karnataka and is targeted for commissioning within the next three years.

Solar modules for the project will be manufactured using cells sourced from Rays Power’s upcoming cell manufacturing facility in Madhya Pradesh, being developed through its subsidiary Rays Green Energy. The initiative aligns with India’s push to strengthen domestic manufacturing in the renewable energy sector.

Ketan Mehta, Managing Director of Rays Power Infra, said the project demonstrates how renewable energy developers and central public sector enterprises can collaborate to deliver large-scale clean energy infrastructure efficiently. He added that the company remains focused on building future-ready infrastructure to accelerate India’s energy transition.

Pawan Sharma, Whole-Time Director, said the project reflects the company’s end-to-end project development and execution capabilities, from land development and transmission connectivity to EPC delivery and deployment of domestic-content-compliant modules. He said the installation is expected to set new benchmarks in reliability, performance and timely commissioning.

Rays Power Infra specialises in utility-scale renewable energy solutions, including solar, wind and hybrid projects, and has pioneered the co-development business model in India. The company currently has a diversified portfolio of around 11,665 MWp, including commissioned capacity of about 1,771 MWp, contracted capacity of 4,029 MWp, under-development capacity of 3,565 MWp and around 2,300 MWp at advanced stages across 13 states and one union territory.

The company is also preparing for an initial public offering, having filed a draft red herring prospectus with the Securities and Exchange Board of India and stock exchanges. The project further strengthens Rays Power Infra’s position in India’s renewable energy landscape and supports the country’s clean energy expansion and domestic manufacturing goals.