Global solar power plant development company, Rays Power Experts has signed agreement for setting up 5 new projects totalling 15 MW of solar power capacity before March 2014 with an estimated investment of $27 million.

The projects are mainly in the in the Delhi and National Capital Region (NCR).

Targeting to complete 150 MW of solar power capacity by the end of this financial year, Rays Power Experts has set its eye to become a leading player of the solar power industry.

In a statement issued here, Rahul Gupta, Director, Rays Power Experts said the company was in the middle of acquiring many more such projects across different verticals of the industry. “Rays Experts is targeting for 250 MW of installed solar power plants producing electricity for more than 5 million households per year,’’ he added.

The company has successfully accomplished all its committed projects of 29 MW for 11 projects in 2.5 months by end of September 2013. Over Rs. 750 crores have already been invested to get to this great number of 100 MW achieved so far.

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