Gensol Engineering Ltd. Secures 22 MW Ground Mount Solar PV Project with order value of INR 88 Crore from a leading steel products company in Punjab

Bengaluru, December 18, 2024: Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, has secured a first large turnkey Solar project from a leading steel product company in Punjab. The project involves the development of a 22 MW ground-mounted solar PV power plant, with a total contract value of INR 88 Crore is set to be executed over a 6-month period.

The project will utilize high-efficiency Bi-facial solar modules, strategically chosen to maximize energy output and ensure long-term durability. This innovative approach aligns perfectly with India’s ambitious renewable energy targets and contributes significantly to the development of a robust green energy infrastructure. Led by solar power, renewable solutions are gaining traction in the C&I segment as they allow commercial establishments and industries to decarbonize their energy consumption and cut down carbon footprint, embrace sustainability.

Commenting on the development, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India), Gensol Engineering Ltd. said, ” We are deeply grateful for the trust placed in us by the customer. This significant project is a testament to Gensol’s growing expertise as a provider of comprehensive, end-to-end solar solutions for Commercial, industrial and Corporates to meet their Sustainability and Energy transition commitment. It will play a vital role in advancing India’s clean energy transition, aligning with our firm commitment to contributing to the low carbon energy mix. We look forward to further collaborating with the state of Punjab and Steel Industry to support and enhance India’s renewable energy goals and decarbonise the supply chain & manufacturing.”

By leveraging its expert design and execution capabilities, Gensol will ensure optimal capture and utilization of solar energy that will help the customer make its manufacturing processes more sustainable and responsible. The awarding of this contract to Gensol highlights the company’s growing expertise and proven track record of delivering renewable energy projects on time.