Rays Power Infra has sold its solar power plant projects in Telangana, Karnataka and Tamil Nadu to two global investors for over Rs 700 crore.
Economic Laws Practice advised Rays Power Infra on the deal.
The team was led by Abhishek Sanyal (Partner) and included Jishnu Dhar (Senior Associate) and Daryl Menezes (Associate).
According to ET, post this portfolio sale, Rays Power has become completely debt-free with additional cash to boost its next phase of green energy development.
Tirunveli Solar Project Private Limited in Tamil Nadu operates a 100 MW solar power plant and has an enterprise value of over ₹330 crores alone.