Gensol Engineering secures Rs 520-crore solar power project in Maharashtra

Green Energy

Gensol Engineering, a leading player in solar power engineering, procurement and construction (EPC) services and electric mobility sector, has secured a large turnkey order in size and value from a power generation utility in Maharashtra.

The project involves the development of a 100 MWAC/135 MWp ground-mount solar PV power project across 500 acres in Maharashtra at an order value of Rs 520 Crore..

The company in its press release said that the project aligns with futuristic policy introduced by the Ministry of New and Renewable Energy (MNRE) in April 2022 and is aimed at enhancing Maharashtra's energy infrastructure while contributing significantly towards India's sustainable energy goals.

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The company explained that its role spans the entire gamut of the project's lifecycle — from the  process of land acquisition to the meticulous aspects of design, engineering, procurement, and logistics. The scope extends to an all-encompassing array of responsibilities, including civil and electrical engineering works, the securing of necessary permits, the installation and commissioning of the plant, and a commitment to three years of operational management, inclusive of maintenance for the plant’s switchyard and its extensive transmission infrastructure.

Gensol Engineering expects to deliver as per the tender's stipulation of a 450-day completion timeline.

On March 21, Gensol Engineering also announced the commissioning of a 10.6 MWp single rooftop solar project for Trident Limited at its Budhni plant in Madhya Pradesh. According to the information shared by the company on bourses, the rooftop solar plant that is equipped with close to 20,000 solar panels is estimated to generate enough clean energy to offset close to a staggering 11,000 tonnes of carbon dioxide emissions annually.

Gensol shares are down by more than 40 percent from its life highs after the shares have recovered by more than 14 percent from its recent lows made on March 15. On one year basis Gensol shares are trading with gains of over 177 percent.

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