Rays Future Energy, a subsidiary of integrated solar power company Rays Power Infra, today said it is executing 60MW of capacity under open access systems in Karnataka, to be completed by the end of the current fiscal.
The company has identified over 50 highly-rated private commercial and industrial consumers to whom the energy will be offered, providing them access to power at reduced costs sourced from solar parks being developed by Rays Power Infra, it said.
The open access model is perfect for regions like Karnataka, where the grid is robust, the demand for power is high, and there is going to be substantial demand for energy that will continue to increase, Rays Power Infra Pvt.Ltd CEO Ketan Mehta said.
"Open access becomes a win-win business model for all stakeholders as private consumers get cheaper power, thereby boosting their productivity and competitiveness, developers get returns on their investments, and it also contributes to the government's solar mission of having 100 GW of solar powercapacity by 2022," he said.
Rays Future Energy will focus on the development of the private off-taker market to provide renewable energy solutions to the private off-taker market under both the distributed and open access based models over the next few years, starting with Karnataka, the company said in a release.
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