Gensol Engineering shares surge over 8% as firm secures EPC contract for solar PV project

Gensol Engineering shares surge above 8% with EPC contract win

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26 Aug, 2025 12:21

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Shares of Gensol Engineering Ltd. surged 8.6 percent to Rs 759 apiece on January 6, following the announcement of a significant contract win. The company secured an EPC contract from a renowned Public Sector Undertaking for the development of a 275 MW Solar PV Project at the RE Solar Park, Khavda, Rann of Kutch, Gujarat. The contract, valued at approximately Rs 1,062 crore (including GST), also includes three years of operation and maintenance (O&M) services.

"We have started Calendar Year 2025 on a high note," said Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) at Gensol Engineering Ltd. "We have been awarded a prestigious Solar PV project contract from a renowned Public Sector Undertaking at RE Solar Park, Khavda, Rann of Kutch, Gujarat. This partnership holds immense value for us, and we are grateful for the continued trust and confidence placed in us by such a large RE corporation."

This step, as per the company's statement in the exchange filing, "aligns with the government's vision to address India's increasing demand for clean and sustainable energy". "By harnessing innovative technologies and fostering a culture of excellence, we aim to play a pivotal role in advancing the nation's energy landscape and ensuring a greener future for generations to come," it said.

This significant order follows the company's recent announcement of securing an EPC contract worth Rs 897.47 crore from NTPC Renewable Energy Limited for the development of 225 MW Grid Connected Solar PV Projects at the GSECL Solar Park (Stage-III) in Khavda, Gujarat.