Mumbai, January 07, 2025: Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector, has further solidified its position as a key driver of India’s energy transition by securing a significant EPC contract. The company has been awarded a contract by a renowned public sector undertaking for the development of a 245 MW Solar PV Project at the prestigious Khavda RE Power Park in Gujarat. This contract, valued at approximately INR 967.98 Crores (inclusive of GST), includes three years of comprehensive O&M services.

This marks Gensol’s second major project win at the Khavda Solar Park within a short span, underscoring the company’s strong market presence and execution capabilities. Earlier this month, the company secured an EPC contract worth INR 1062.97 Crores for a 275 MW Solar PV Project – part of the larger 795 MW Solar PV Development Package – at the same location. With these two significant projects, Gensol will now be responsible for the cumulative development of 520 MW of Solar PV capacity at the Khavda Solar Park, a site poised to become the world’s largest hybrid renewable energy park.

Anmol Singh Jaggi, MD and Chairman, Gensol Engineering, shared, “These back-to-back orders at Khavda Solar Park are a testament to Gensol’s commitment to delivering high-quality, sustainable energy solutions. India is on a remarkable journey towards energy independence, and renewable energy is at the forefront of this transformation. Gensol is proud to be a key contributor to this national endeavor.”

Commenting on the win, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) in Gensol Engineering Ltd., stated, “We are deeply honored to have signed the contract with a leading public sector undertaking for this prestigious project. Securing two major projects at Khavda within a short timeframe reflects the trust and confidence placed in Gensol’s engineering expertise, and firm commitment to customer satisfaction. We are excited to contribute to the nation’s renewable energy goals and further strengthen our position as a leading EPC player in the Indian market.”

By leveraging its expertise in solar EPC services, Gensol remains committed to driving sustainable energy solutions that align with the nation’s vision for a greener and more energy- efficient future. By harnessing innovative technologies and fostering a culture of excellence, the company aims to play a pivotal role in decarbonizing the nation’s energy landscape, ensuring a greener future for generations to come.

The post Gensol Engineering Ltd. secures EPC contract worth approximately INR 967.98 crores appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, January 06, 2025: Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a prominent leader in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, has secured a significant EPC contract from Renowned Public Sector Undertaking for Development of 275MW Solar PV Project at RE Solar Park, Khavda Rann of Kutch, Gujarat, with a total bid value of approximately INR 1061.97 crores (Including GST), including three years of O&M.

Commenting on the development, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) at Gensol Engineering Ltd., stated, “We have started Calander Year 2025 on a high note. We have been awarded a prestigious Solar PV project contract from Renowned Public Sector Undertaking at RE Solar Park, Khavda Rann of Kutch, Gujarat. This partnership holds immense value for us, and we are grateful for the continued trust and confidence placed in us by such large RE corporation.”

As a proud homegrown company, we wholeheartedly align with the government’s vision to address India’s increasing demand for clean and sustainable energy. Our commitment is unwavering, and we continuously strive to make meaningful contributions across all facets of our operations. By harnessing innovative technologies and fostering a culture of excellence, we aim to play a pivotal role in advancing the nation’s energy landscape and ensuring a greener future for generations to come.

The post Gensol Engineering Ltd. has secured an EPC contract from Renowned Public Sector Undertaking of 275MW Solar PV Project at RE Solar Park, Khavda Rann of Kutch appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The project will utilize high-efficiency Bi-facial solar modules, strategically chosen to maximize energy output and ensure long-term durability. This innovative approach aligns perfectly with India’s ambitious renewable energy targets and contributes significantly to the development of a robust green energy infrastructure. Led by solar power, renewable solutions are gaining traction in the C&I segment as they allow commercial establishments and industries to decarbonize their energy consumption and cut down carbon footprint, embrace sustainability.

Commenting on the development, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India), Gensol Engineering Ltd. said, ” We are deeply grateful for the trust placed in us by the customer. This significant project is a testament to Gensol’s growing expertise as a provider of comprehensive, end-to-end solar solutions for Commercial, industrial and Corporates to meet their Sustainability and Energy transition commitment. It will play a vital role in advancing India’s clean energy transition, aligning with our firm commitment to contributing to the low carbon energy mix. We look forward to further collaborating with the state of Punjab and Steel Industry to support and enhance India’s renewable energy goals and decarbonise the supply chain & manufacturing.”

By leveraging its expert design and execution capabilities, Gensol will ensure optimal capture and utilization of solar energy that will help the customer make its manufacturing processes more sustainable and responsible. The awarding of this contract to Gensol highlights the company’s growing expertise and proven track record of delivering renewable energy projects on time.

The post Gensol Engineering Ltd. Secures 22 MW Ground Mount Solar PV Project with order value of INR 88 Crore from a leading steel products company in Punjab appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

This strategic move marks Scorpius’ commitment to leverage the vast potential of the U.S. solar tracker market, which is the largest in the world and deploys trackers aggregating over 25,000 MW annually. Importantly, the U.S. tracker market is growing at a robust CAGR of more than 20%. With an ambitious goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc. aims to capitalize on its (Scorpius India) decade long experience and 1,000 MW+ of contracted orders across key markets including India, Africa, Japan, and the Middle East. The company’s advanced technology, designed to perform optimally on both flat and undulating terrains, coupled with its competitive pricing, is set to drive this growth.

Commenting on the expansion, Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Ltd., said, “The U.S. market is pivotal to our global strategy, and the launch of Scorpius Trackers Inc. marks a significant milestone in our growth journey. With USA leading the world in solar tracker adoption, our entry into this market aligns perfectly with our vision to provide designed in India and made in India high technology products to the world. We are confident that under leadership of Shailesh Vaidya, Scorpius Trackers will rapidly establish itself as a key player in the U.S. and help us tap into the potential of solar energy across the world.”

Shailesh Vaidya, Co-founder and CEO of Scorpius Trackers Pvt. Ltd. (India), who will lead the U.S. operations as CEO of Scorpius Trackers Inc., added, “Entering the U.S. market is a landmark achievement for Scorpius Trackers. Our proven technology and deep expertise in diverse global markets will ensure that we develop cutting-edge, reliable, and cost-effective solutions that will cater to the unique needs of U.S. utility-scale plants. This expansion will pave the way for substantial growth and further establish Scorpius Trackers as a leader in the solar tracking industry.”

Founded in 2012, Scorpius Trackers has quickly established itself as a leader in the solar tracking industry, known for its proactive, end-to-end single-axis solar tracking solutions. The company boasts globally patented technology and has installations across Japan, the Middle East, India and Africa. The acquisition by Gensol Engineering Limited in 2023 has further solidified its market position, enhancing its capabilities through a history of successful collaborations on diverse solar projects worldwide.

The post Scorpius Trackers Inc. (subsidiary of Gensol Engineering Ltd.) Launches in the USA, Targets 2,000 MW Annual Supply by 2028 appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Speaking on the order win, Ms. Shilpa Urhekar, Chief Executive Officer, Solar EPC (India), Gensol Engineering Limited shared, “We are excited to win this prestigious order from a leading IPP. This win demonstrates the trust in leadership of Gensol’s project management capabilities and execution expertise. Our understanding of customer needs, excellent engineering track record coupled with our commitment to deliver high-quality renewable solutions have been instrumental behind our string of wins. As a result, we are currently executing solar projects for a number of marquee customers totaling approximately 1 GW. This is enabling us to create the foundation for an exciting future.”

The post Gensol Engineering receives EPC award for INR 463 Crores solar plant at Gujarat’s Khavda RE Power Park appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The project will supply electricity on an “On-Demand” basis to Gujarat State’s DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling Energy Storage Purchase Obligations, and enhancing grid resilience. The project once commissioned at two Gujarat Energy Transmission Corporation (GETCO) substations, will deliver 500 MW/1000 MWh energy for two charge/discharge cycles per day.

Commenting on Gensol’s pivotal role sector’s growth in India, Anmol Singh Jaggi, Managing Director, Gensol Engineering Limited said, “We are proud to receive the second tranche under greenshoe option allotment from GUVNL taking our BESS order book to over INR 3100 Crore. Gensol is committed to supporting India’s energy transition goals through innovative and sustainable solutions. Emerging as a successful bidder and being awarded additional allotment enables us to make a significant impact on the Indian energy market while solidifying our position as a leading industry player in the renewable energy landscape, propelling the future of BESS in India.”

The post Gensol Engineering Limited allotted additional 250 MW (500 MWh) for GUVNL’s Battery Energy Storage Project taking its total BESS order book to over INR 3100 Crore appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The project will supply electricity on an “On-Demand” basis to Gujarat State’s DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling Energy Storage Purchase Obligations, and enhancing grid resilience. The project will deliver 250 MW/500 MWh energy for two charge/discharge cycles per day. There is a greenshoe option of awarding second tranche of 250 MW/500 MWh at the discretion of GUVNL at the same terms and conditions; in case of exercise of greenshoe option the project could reach 500 MW / 1000 MWh, potentially generating a total revenue of approximately INR 2680 Crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure.

Expressing his optimism about the future of BESS in India and Gensol’s pivotal role in propelling the growth of this sector, Anmol Singh Jaggi, Managing Director, Gensol Engineering Limited said, “It’s a proud moment for Gensol. This landmark for GUVNL BESS project not only highlights Gensol’s expertise and reliability in the renewable energy sector but also sets a clear direction for our future endeavors. It aligns with Gensol’s commitment to supporting India’s energy transition goals through innovative and sustainable solutions. The BESS market in India is poised for exponential growth, and Gensol is at the forefront, ready to lead this transformation. Securing this project enables us to make a significant impact on the Indian energy market while solidifying our position as a leading industry player in the renewable energy landscape, propelling the future of BESS in India.”

Battery energy storage is increasingly deployed worldwide for renewable energy integration and managing grid uncertainties. As part of this project, Gensol will provide state-of-the-art energy storage solutions combined with advanced energy management systems, ensuring compliance with rigorous availability and efficiency standards. This project underscores the company’s ability to deliver reliable and energy-efficient storage solutions that meet the rising global demand.

Being one of the first major projects of standalone BESS in the country, the potential for BESS is set to experience substantial growth, fueled by robust policy backing from the Government. Securing the project is a testimony of Gensol’s EPC capabilities and efforts towards integration into the value chain, particularly in Advanced Chemistry Cell-based Energy Storage Systems.

The post Gensol Engineering Ltd. emerged as a successful bidder for GUVNL’s 250 MW (500 MWh) Battery Energy Storage Project worth INR 1340 Crore appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.