A.P. Moller Capital Backs Rays Power Infra for 900 MW Renewables Push in India

Institutional fund management company, A.P. Moller Capital, has invested in an Indian renewables joint venture with Rays Power Infra Limited (Rays Power Infra), marking A.P. Moller Capital Funds’ first investment in India.

In a press release, A.P. Moller Capital said it made this investment through the A.P. Moller Capital - Emerging Markets Infrastructure Fund II. The initial projects currently under development are expected to reach a combined capacity of around 900 MW of large-scale renewable projects across India.  

A.P. Moller Capital said that the latest round of funding by Rays, a solar engineering, procurement, and construction provider, reflects the firm’s ability to secure attractive investments in South and Southeast Asia. Across its funds, A.P. Moller Capital has supported the development of more than 2 GW of renewable and transition-related capacity to date. 

A.P. Moller Capital, has a strong track record of investing in and scaling renewable energy businesses across Southeast Asia and Africa, including solar, wind, and hybrid power businesses, grid solutions, and energy-efficiency assets. 

The broader A.P. Moller Group has been active in India for more than 30 years through its logistics and services businesses, providing a strong foundation of commercial, operational, and stakeholder relationships in the country. 

Leadership View

On the latest announcements, Semih Gökmen, Partner at A.P. Moller Capital, said, “This partnership allows us to deploy long-term capital into a high-quality pipeline in one of the world’s fastest-growing renewable markets. Our operational mindset positions us well to deliver utility-scale renewable capacity responsibly and efficiently. We are pleased to work with Rays Power Infra, whose development strengths complement our investment approach.”

Ketan Mehta, Managing Director (MD) and Chief Executive Officer (CEO) of Rays Power Infra, commented, “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.” 

Kim Fejfer, Managing Partner and Chief Executive Officer (CEO) of A.P. Moller Capital, added: “We are delighted to take this first meaningful step into India’s renewable energy market. India’s energy transition presents one of the most compelling long-term infrastructure opportunities globally, and we see strong policy support and market fundamentals driving unprecedented growth. Building on the A.P. Moller Group’s decades of engagement in India and A.P. Moller Capital’s experience in developing and scaling critical infrastructure businesses, we are well positioned to execute at scale in support of India’s rapidly maturing renewable energy market.”