Gensol Engineering wins two Rs 337 crore EPC contracts
Gensol Engineering Limited reaffirmed its commitment to India’s renewable energy industry on Monday by announcing that it has secured two major EPC contracts. “Gensol’s assistance for India’s sustainable energy transition and its developing leadership in the sector are shown by the first project, a 250 MWac/350 MWdc ISTS solar power facility in Rajasthan. Furthermore, the Maharashtra 50MWac/72.5MWdc solar power project represents a significant advancement toward our goal of dominating the solar energy industry,” the company said in a regulatory filing.
These projects, which total Rs 337,70,00,000 (taxes included), signal a significant turning point in Gensol’s development and strategic positioning in the market. The contracts include modules as free-issue items and include design, engineering, procurement, construction, and commissioning services.
“Winning these projects is a significant milestone for Gensol Engineering Limited, indicating a major expansion in our operational capabilities and project scale,” said Ali Imran Naqvi, CEO of Gensol Engineering Limited (EPC Business). The EPC contracts that we have secured in Rajasthan and Maharashtra are indicative of our growing capabilities and strategic goal to penetrate important high-growth areas. The project developers have our sincere gratitude for entrusting us with their first greenfield solar projects in India. For Gensol, this is a critical moment as we strive for greater success and support the nation’s energy transition.
The flagship business of the Gensol group, Gensol Engineering Limited, was founded in 2012 and specializes in engineering, procurement, and construction (EPC) services with a particular emphasis on the solar power industry. More than 600 MW of ground-mounted and rooftop solar arrays have been constructed by Gensol. Gensol has expanded beyond solar energy and opened an electric vehicle (EV) manufacturing plant in Pune, India.
