Gensol Engineering share price gained in early trade on November 16 after the company was identified as the lowest bidder for an EPC contract for a groundbreaking green hydrogen based mobility station in Kargil, Ladakh. EPC stands for engineering, procurement and commissioning.
At 09:37 hrs, Gensol Engineering was quoting at Rs 811.00, up Rs 4.90, or 0.61 percent on the BSE.
The company secured this project by demonstrating the technocommercial competency in collaboration with Matrix Gas & Renewables Ltd. (Matrix). This project is to be commissioned by the National Hydroelectric Power Corporation.
Gensol is set to develop a 500-kW grid-connected, ground-mounted solar power project that will provide energy to the hydrogen refueling station.
Matrix will oversee the engineering, procurement, and commissioning of dual electrolysers, each with a capacity of 30 NM3.
The scope of work includes the entire balance of plant EPC encompassing the green hydrogen system installation, storage, and dispensing facilities, in addition to the requisite civil and electrical infrastructure for the integrated solar and hydrogen operation in Ladakh.
Gensol is executing this project for NHPC, ensuring a minimum green hydrogen purity of 99.97%, with the project slated for completion within 12 months from the issuance of the work order.
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In October the company bagged a contract worth Rs 301.5 crore from Maharashtra State Power Generation Co Ltd (Mahagenco) for the installation and commissioning of a solar power plant.
The share touched a 52-week high of Rs 945.85 and a 52-week low of Rs 265.68 on 18 October, 2023 and 14 March, 2023, respectively.
Currently, the stock is trading 14.26 percent below its 52-week high and 205.25 percent above its 52-week low.
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