According to reports, Indian solar Engineering, procurement and construction (EPC) company RaysExperts on Tuesday said it has commissioned projects that contributed an addition of 30 megawatt (MW) to Rays Solar Parks in Bikaner, Rajasthan between January and March 2017.
“Around 99 per cent of solar EPC companies in India have a total individual portfolio of less than 30 MW – which Rays Experts, in a rare feat of sorts, achieved in just 3 months,” the company said in a statement.
The project is set to generate 50.67 million kWh (kilowatt-hours) of electricity in the first year. All the projects in the 30 MW capacity were commissioned before 31 March 2017, which enabled the project developers to reap maximum accelerated depreciation benefits and 100 per cent tax benefit in the first year itself, according to RaysExperts.
The New Delhi-based company said the plants will eventually replace more than 1,200 million coal-based electricity units with clean and green electricity. “We faced many challenges like scarcity of skilled labour in a remote area, heavy dust storms, sandy and loose soil land surface, lack of internet and other basic amenities. We believe this will restore the falling confidence regarding solar amongst customers,” Rahul Gupta, Chief Executive Officer, Rays Experts, said.
The projects received financing from multiple nationalized banks including State Bank of India, Kotak Mahindra and HDFC bank.