Other Private Equity/Strategic Investments
Rays Power Infra sells assets worth over Rs.700-Cr to 2 global investors
Jaipur-based Rays Power Infra has sold its solar projects in Tamil Nadu, Karnataka and Telangana to two global investors for over INR 700 crore. Rays Power has become completely debt-free with additional cash to boost its next phase of green energy development. The recently sold assets had debt worth approximately INR 400 crore and EBITDA of INR 95 crore. These were high tariff, well performing assets commissioned between 2017 and 2020. The transactions have enabled the company to raise enough capital to support its future growth.
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