Gensol Engineering sells Scorpius Trackers US arm for ₹350 crore

27 Feb 2025 , 09:42 AM

Gensol Engineering Ltd., one of India’s largest renewable energy solutions providers, has concluded a ₹350 crore sale of its US subsidiary, Scorpius Trackers Inc., to a major American provider of renewable energy solutions.

The transaction comprises two tranches, in which exclusive global Intellectual Property (IP) rights pertaining to Scorpius Trackers advanced solar tracking technology are transferred. However, the IP rights for India remain with Gensol.

As per the exchange filing by Gensol, the transaction is expected to close by March 2026, subject to requisite regulatory approvals and other customary closing conditions.

This aligns with Gensol’s strategy of monetising its high-value assets, unlocking capital from its subsidiaries and reinvesting in its core business and primarily in the clean energy sector in India.

Sale proceeds will be used to:

• Expand Scorpius Trackers’ operations in India.
• Strengthen Gensol’s solar EPC (Engineering, Procurement, and Construction) business.
• Accelerate investments in broader renewable energy initiatives.

Gensol Engineering’s Chairman & Managing Director, Anmol Jaggi said, “This deal underlines the value of Gensol’s subsidiaries and its innovative approach.” “The monetization of Scorpius Trackers’ US business will enable Gensol to invest in high-growth opportunities in India itself and at the same time, bolster its financial position,” he added.

Scorpius Trackers Pvt. Ltd. in India continues to be a wholly owned subsidiary of Gensol Engineering. With the Indian market as the core focus, the company will leverage innovation to further strengthen its leading position in this fast-growing domestic solar energy market.