Gensol Engineering, a prominent player in the solar power engineering, procurement, and construction (EPC) services, as well as the electric mobility sector, has secured a significant turnkey order in terms of both size and value 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 across 500 acres in Maharashtra, with an order value of Rs 520 Crore.
In a press release, the company stated that the project aligns with the futuristic policy introduced by the Ministry of New and Renewable Energy (MNRE) in April 2022. It aims to enhance Maharashtra’s energy infrastructure while contributing significantly to India’s sustainable energy goals.
The company elaborated on its role in the project, which encompasses the entire project lifecycle — from land acquisition processes to detailed design, engineering, procurement, and logistics. This includes civil and electrical engineering works, obtaining necessary permits, installing and commissioning the plant, and a commitment to three years of operational management, including maintenance for the plant’s switchyard and extensive transmission infrastructure.
Gensol Engineering expects to meet the tender’s requirement of completing the project within 450 days.
Additionally, on March 21, Gensol Engineering announced the 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 nearly 20,000 solar panels, is estimated to offset approximately 11,000 tonnes of carbon dioxide emissions annually.
Gensol shares have experienced a decline of over 40 percent from their all-time highs, but have rebounded by more than 14 percent from their recent lows recorded on March 15. Over the past year, Gensol shares have shown gains of over 177 percent.
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