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AP Moller Capital to Invest up to Rs 13.50 Bn in Rays Power Infra

2025-12-29

AP Moller Capital has announced plans to invest up to Rs 13.50 billion in renewable energy projects being developed by Rays Power Infra Limited through project-specific special purpose vehicles (SPVs), marking the fund’s first investment in India. The investment is expected to catalyse total project capital expenditure of at least Rs 52 billion, significantly scaling up Rays Power Infra’s renewable energy platform.

According to the company, the funding will support the development of utility-scale renewable energy assets and provide long-term revenue visibility, while also creating opportunities for future collaboration between the two partners. The investment reflects growing global investor confidence in India’s renewable energy sector and its long-term economic and policy fundamentals.

A.P. Moller Capital, backed by the 120-year industrial legacy of the A.P. Moller Group, has a strong track record of investing in and scaling renewable energy businesses across Southeast Asia and Africa. Its portfolio spans solar, wind and hybrid power projects, grid solutions and energy-efficiency assets. Across its funds, A.P. Moller Capital has supported the development of more than 2 GW of renewable and transition-related capacity. The A.P. Moller Group has also been active in India for over three decades through its logistics and services businesses.

Ketan Mehta, MD & CEO, Rays Power Infra, said the partnership represents a key milestone for the company. “This partnership with A.P. Moller Capital marks a milestone for Rays Power Infra and reinforces our long-term vision of creating renewable energy infrastructure at scale. Their investment not only validates the strength of our development platform but also accelerates our ability to deliver sustainable, utility-scale solar assets across India,” he said.

Semih Gokmen, Partner, A.P. Moller Capital, said the collaboration enables deployment of long-term capital into a high-quality pipeline in one of the world’s fastest-growing renewable markets. Kim Fejfer, Managing Partner and CEO, A.P. Moller Capital, added that India’s energy transition offers one of the most compelling global infrastructure opportunities, supported by strong policy and market fundamentals.

News source: Business Standard

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