Private Equity

Other Private Equity/Strategic Investments

Solar parks developer Rays Power raises Rs.20-Cr more

Entrepreneur   PV Magazine  

Rays Power Experts, a Jaipur-headquartered solar park developer, has raised INR 20 crore in equity funding led by Swastika Investmart Ltd. The funding round, which also included investments from the Sunil Singhania family office, Vyom Wealth Advisors, Lalit Dua of Rajasthan Global Securities, Vineet Arora of NAV Capital, and Moheet Agarwal, takes the total equity capital raised by firm so far to INR 200 crore.Established in 2011, Rays Power Infra is an early mover in the solar park regime. It also provides turnkey solar engineering, procurement and construction (EPC) services. The company has implemented 1,207 MWp of solar power projects. It claims to have 95% market share in the open access market of Rajasthan.