Rays Power Infra Private Limited has sold its solar projects in the states of Tamil Nadu, Karnataka and Telangana to two global investors, at an aggregate enterprise value of over Rs 7 billion. Post the portfolio sale, Rays Power Infra has become completely debt-free, with additional cash to boost its next phase of green energy development. The assets sold had debt worth approximately Rs 4 billion and an EBITDA of Rs 950 million. These were high-tariff, well-performing assets commissioned between 2017 and 2020. These transactions have enabled the company to raise enough capital to support its future growth.
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