Shares of Gensol Engineering rise on securing a solar PV project in Maharashtra

About Project

Gensol Engineering Limited, a prominent player in solar power solutions, has secured a monumental project in Maharashtra. The company will be developing a 100 MWAC/135 MWp ground-mount solar PV power plant valued at a staggering Rs 520 crore. This marks the largest-ever turnkey EPC order for Gensol and solidifies its position in the renewable energy sector.

The project aligns with the futuristic policies set by the Ministry of New and Renewable Energy (MNRE) and aims to significantly enhance Maharashtra’s energy infrastructure while contributing to India’s clean energy goals. Gensol’s role encompasses the entire project lifecycle, from land acquisition and meticulous design stages to construction, commissioning, and even three years of operational management.

This win highlights Gensol’s growing expertise and its consistent track record of delivering renewable energy projects on time. The company is confident in meeting the stipulated 450-day completion timeline.

Commenting on the project, Mr. Ali Imran Naqvi, CEO of Gensol Engineering Limited (EPC Business), expressed his gratitude for the trust bestowed upon them. He emphasized Gensol’s commitment to providing end-to-end solar solutions and contributing to India’s clean energy transition. This project is a testament to the team’s dedication and Gensol’s position as a leader in the renewable energy sector.

Share Price Movement

Gensol Engineering Ltd (GENSOL) is currently trading at Rs 887.00, up 0.99% from its previous close of Rs 878.30. The stock opened higher at Rs 897.40 and has seen a high of Rs 914.10 and a low of Rs 885.35 today. Gensol has a market capitalization of Rs 3,359.33 crore and falls under the consulting services industry category. It is listed as Group B with a T+1 settlement type. The stock is included in the S&P BSE SmallCap index. With a 52-week high of Rs 1,377.10, the stock is currently trading well below its peak. It operates within a 5% price band, with an upper limit of Rs 922.20 and a lower limit of Rs 834.40.

About Company

Gensol Engineering Limited, established in 2012, specializes in engineering, procurement, and construction services, focusing on the solar power sector. With a team of over 240 professionals, Gensol has installed over 600 MW of solar installations globally. The company also has a state-of-the-art electric vehicle (EV) production facility in Pune, India, producing electric three-wheelers and four-wheelers. Gensol EVs have received approval from the Automotive Research Association of India (ARAI). The company offers comprehensive EV leasing solutions to various clients, including PSUs, educational institutions, government entities, multinational corporations, ride-hailing services, employee transport companies, rental services, logistics, and last-mile delivery enterprises.

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