Solarworld Energy Solutions Completes ₹26.82 Cr First Tranche Payment for Rays Green JV

Solarworld Energy Solutions Ltd has made the first tranche payment of ₹26,82,16,200 (₹26.82 Crore) to Rays Green Energy Manufacturing Private Limited as part of its equity subscription. In return, Rays Green has allotted 12,600 equity shares to Solarworld, giving it a 50% stake in the joint venture. Rays Power Infra Limited holds the remaining 50%. The company plans to make further payments up to ₹73,17,83,800 (₹73.18 Crore) as per the agreement. This transaction solidifies the joint venture aimed at expanding operations in the green energy manufacturing sector.