Gensol Engineering Limited on Monday announced that it has bagged two significant EPC contracts, underscoring the company’s commitment to India’s renewable energy sector. “The first, a 250 MWac/350 MWdc ISTS solar power project in Rajasthan, showcases Gensol’s emerging leadership in the industry and its support for India’s sustainable energy transition. Additionally, the 50MWac/72.5MWdc solar power project in Maharashtra marks another step in our journey to becoming a dominant player in the solar energy domain,” it said in a regulatory filing.
These projects, valued at Rs 337,70,00,000, including taxes, represent a milestone in Gensol’s growth and strategic market position. The contracts encompass design, engineering, procurement, construction, and commissioning services, with modules as free-issue items.
Ali Imran Naqvi, CEO of Gensol Engineering Limited (EPC Business), said, “Winning these projects is a significant milestone for Gensol Engineering Limited, indicating a major expansion in our operational capabilities and project scale. These EPC contracts in Rajasthan and Maharashtra reflect our increasing capabilities and strategic intent to enter key high growth regions. We are deeply thankful to the project developers for trusting us with their maiden greenfield solar projects in India. It’s a pivotal time for Gensol as we aim for higher achievements and contribute to the country’s energy transformation.”
Established in 2012, Gensol Engineering Limited, the flagship company within the Gensol group, specializes in engineering, procurement, and construction (EPC) services, focusing on the solar power sector. Gensol has installed both groundmounted and rooftop solar installations totalling more than 600 MW. Venturing beyond solar, Gensol has established an electric vehicle (EV) production facility in Pune, India.