Rays Power enters retail solar segment, plans 70 stores by 2020
New Delhi : Announcing its entry into B2C retail segment, solar plant builder Rays Power Infra on Thursday said its group company Rays Future Energy will launch 70 operational stores across the country by 2020.
"The company plans to launch around 10 operational stores in the first year of its operations and expand to over 70 stores by 2020 covering major cities in India," solar development firm Rays Power Infra said in a statement.
The Delhi-based solar Engineering, Procurement and Construction (EPC) company, which has commissioned projects over 650 MW, will commence its first outlet in Gurugram in Haryana by the end of November 2018.
The company's entry into the retail solar power segment comes after the government's initiative to subsidize rooftop solar installations and encourage the use of renewable energy, especially in the residential and domestic sector.
It plans to sell various solar-powered products through a franchise business model. The initial product offering will be standardized solar solutions for the retail customers, including homeowners and small-scale commercial establishments.
Rays Solar Experience Centers will also be set up to provide plug-n-play, easy to install solar power packs for residential rooftops. Solar power kits of 2KWp to 20KWp will be the key offering under this venture apart from products like inverters and lights.