Gensol Engineering Ltd. appoints Mr. Kuljit S Popli as an Independent Director and Mr. Ali Imran Naqvi as an Executive Director

Bengaluru, June 10, 2024: Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services, along with electric mobility solutions, today announced that Mr. Kuljit Singh Popli has been appointed as an Independent Director (Non-Executive) and Mr. Ali Imran Naqvi as Director (Executive) to the Company’s board of directors (the “Board”).

Mr. Popli has more than 40 years of rich professional experience in India. He is a Founder Director of Clime Finance Pvt. Ltd. Prior to that he has served as an Advisor with the International Solar Alliance for two years and was Chairman & Managing Director of Indian Renewable Energy Development Agency Limited (IREDA), a leading developmental finance institution in India focusing on renewable energy and energy efficiency projects, from 2014-2019. His leadership resulted in strategic tie-ups with international financial institutions; successful credit enhancement; negotiation of several lines of credit from KfW, AfD, Nordic Investment Bank, World Bank; increase in loan sanctions; new and innovative financial products / schemes etc. enhancing IREDA’s credibility and impact in the industry. He has also served as a Director (Technical) in IREDA from 2007-2014. He has also been associated with esteemed organisations like Power Finance Corporation (PFC), National Hydroelectric Power Corporation (NHPC). In addition, Mr. Popli serves as the Honorary Secretary General of the India Energy Forum and the Chairman of the Renewables vertical within the forum. He is an Electrical Engineer from Birla Institute of Technology (Mesra), an LLB from Delhi University and holds a Post Graduate Diploma in Project Management from Punjab University.

Mr. Naqvi has more than 14 years of professional experience and has been a valuable team member of Gensol Engineering Ltd. right from its inception. In his erstwhile role as CEO of Gensol Solar EPC (India), Gensol’s advisory portfolio grew to exceed 33,000 MW, with an EPC project base of over 600 MW and ongoing EPC projects of more than 500 MW. Under his leadership, Mr. Naqvi transformed Gensol into a turnkey solar EPC company, successfully executing over 600 MW of solar projects across India. In his new role, he will oversee growth of Gensol Engineering Limited and its subsidiaries.

“We are pleased to welcome Mr. Kuljit Singh Popli and Mr. Ali Imran Naqvi to the Gensol board,” said Mr. Anmol Jaggi, Managing Directors, Gensol Engineering Ltd. “Gensol’s illustrious track record in renewable energy, diversification & strategic shift in electric mobility solutions and expansion plans demands an experienced board. I am delighted that the board has diversified profiles, extensive knowledge and leadership experience that will add tremendous value to the organization, and I am incredibly excited about the path ahead.”

Commenting on coming on board as an Independent Director for Gensol Engineering Ltd., Mr. Kuljit S Popli said, “With a strong commitment to advancing India’s clean energy transformation, Gensol stands as a formidable entity offering solar energy and electric mobility solutions. I look forward to contributing to the company’s future growth trajectory. Together, we will continue to advance renewable energy solutions, leaving a lasting impact on the industry and society as a whole.”

Commenting on his new role as an Executive Director for Gensol Engineering Ltd., Mr. Ali Imran Naqvi said, “I am honoured to join the Board and am eager to collaborate with the board members and the leadership team. I see tremendous opportunities for Gensol to advance its strategic vision, drive innovation, and redefine the future of the renewable energy sector globally. Our goal is to lead the charge in sustainable energy solutions, setting new benchmarks for excellence and efficiency. Together, we aim to harness cutting-edge technology and leverage our expertise to etch a conspicuous mark on the canvas of the global clean energy value chain. I am committed to driving our mission forward and creating lasting value for our stakeholders.”