The initiative will meet the power needs of corporate customers and utility projects. Credit: Audio und werbung/Shutterstock.

Rays Power Infra has signed a memorandum of understanding (MoU) with the Rajasthan government in India to develop a 500MW solar park.

The agreement, finalised during the Dubai Expo in December 2024, underscores Rays Power Infra’s commitment to renewable energy initiatives and aims to reduce reliance on non-renewable energy sources, as reported by Energyworld.

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Rays Power Infra director Pawan Sharma stated: “We are thrilled that the Rajasthan government decided to support our vision and signed an agreement to build a 500MW solar park in the state.

“This MoU is an instrumental step towards [an] eco-friendly tomorrow, and we are pleased to be a part of this initiative.”

Rays Power Infra has a commissioned portfolio of 1GW and has commenced construction of the 500MW solar energy project, with completion expected in September 2025.

The initiative will meet the power needs of corporate customers and utility projects, with 220MW developed in India and 280MW internationally.

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Rays Green Energy Manufacturing, a subsidiary of Rays Power Infra, is also set to establish a solar module and cell manufacturing facility in the Indian state of Madhya Pradesh, according to a separate report from Energitica India.

The 45-acre facility will feature a 1.5GW solar cell plant and a 3GW solar module assembly line. The investment is estimated at Rs14bn ($164.98m).

The Madhya Pradesh government, represented by Chief Minister Mohan Yadav, issued a letter of intent for the project during the Regional Industry Conclave 2024 in Narmadapuram.

The initiative is expected to create about 1,200 jobs, contributing to local employment and economic growth in Madhya Pradesh.

The project aligns with Rays Power Infra’s vision of a fully integrated renewable energy ecosystem in India.

It aims to enhance backward integration, reduce import dependency and strengthen India’s position as a global leader in renewable energy.