Rays Power Infra, a company that builds and sells solar power plants, is in talks with private equity and infrastructure finance firms to rally USD 60-100 million.
The company intends to announce a deal in six months time. So far it has built over 650 MW of solar plants. Some of these were built for others, some set up by the company and later sold to others.
In addition, as an energy company it has been selling power to customers. Currently it owns about 60 MW of capacity.
Rays Power Infra requires funding for 150 MW solar plants that it is now developing and also for its foray into residential rooftop solar projects.
The company intends to sell rooftop solar plants also in the form of plug-and-play kits.
Apart from this, the company is planning to buy lithium-ion cells and make batteries for both retail applications and large, ground-mounted solar plants.