Gensol Engineering Bags Landmark ₹520 Crore Solar EPC Order in Maharashtra

22 Mar 2024 , 10:10 AM

Gensol Engineering, a prominent player in solar power engineering, procurement, and construction (EPC) services along with the electric mobility sector, has clinched a substantial turnkey order from a power generation utility in Maharashtra.

The project entails the development of a 100 MWAC/135 MWp ground-mount solar PV power project spread over 500 acres in Maharashtra, valued at ₹520 Crore.

According to the company’s press release, this project aligns with the forward-thinking policy introduced by the Ministry of New and Renewable Energy (MNRE) in April 2022, aimed at bolstering Maharashtra’s energy infrastructure while significantly contributing to India’s sustainable energy objectives.

Gensol Engineering detailed its comprehensive role, encompassing the entire project lifecycle—from land acquisition procedures to meticulous design, engineering, procurement, and logistical aspects.

The scope of work includes civil and electrical engineering tasks, obtaining necessary permits, installing and commissioning the plant, and committing to three years of operational management, including maintenance for the plant’s switchyard and extensive transmission infrastructure.

Gensol Engineering anticipates meeting the tender’s requirement for completion within 450 days.

Additionally, on March 21, Gensol Engineering announced the successful commissioning of a 10.6 MWp single rooftop solar project for Trident Limited at its Budhni plant in Madhya Pradesh.

The rooftop solar plant, equipped with approximately 20,000 solar panels, is estimated to offset nearly 11,000 tonnes of carbon dioxide emissions annually, as per the information shared by the company on bourses.

Gensol shares have experienced a fluctuating trend, witnessing a decline of more than 40% from its all-time highs, albeit recovering by over 14% from its recent lows recorded on March 15. Over the past year, Gensol shares have seen an impressive gain of over 177%.

For feedback and suggestions, write to us at [e-mail]