Gensol Engineering Shares Zoomed Over 2%: Secured Rooftop Solar Order From Dubai

Gensol Engineering Limited, a leader in renewable energy specializing in solar power engineering, procurement, and construction (EPC) services, is pleased to announce the award of a significant contract by the UAE’s foremost sustainable development and clean energy company. This contract involves the design, construction, and long-term operation and maintenance of rooftop solar photovoltaic (PV) systems for a prominent aviation company in Dubai.

With a total installed capacity of 23,178 kWp (23 MWp), this project highlights Gensol Engineering’s commitment to promoting sustainability in the Middle East and supporting the region’s shift towards cleaner energy sources. Valued at AED 81.6 million (₹186 Crore) plus taxes, the project is scheduled for execution over a 20-month period.

The turnkey project will encompass the complete spectrum of services, including design, material procurement, construction, testing, commissioning, and ongoing operation and maintenance of the rooftop solar PV systems. These installations will provide a sustainable energy solution, significantly contributing to Dubai’s ambitious sustainability goals and reducing the carbon footprint of a vital industrial facility.

In a prior announcement, Gensol Engineering reported a solar EPC order book of ₹4,097 Crore, representing 1.5 GW as of September 30, 2024. This impressive figure includes projects from both Public Sector Undertakings (PSUs) and private clients, with expected execution timelines of 12 to 18 months. 

Additionally, Gensol has a robust bid pipeline that exceeds the current order book. Beyond solar projects, Gensol has secured orders for Battery Energy Storage Systems (BESS) under the BOO model, enhancing its revenue potential and reinforcing its dedication to advancing renewable energy solutions and addressing the intermittent nature of the renewable energy sector.

On October 14, 2024, Gensol Engineering shares opened at ₹839.95 and touched the day high of ₹854.90, reflecting a rise of 2.69% from the previous close at 10:15 AM.

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