Gensol Engineering advanced 2.60% to Rs 836.70 after the company announced that it has secured a large turnkey EPC order worth Rs 780 crore from a leading public sector utility in Maharashtra.
The project involves the development of a 150 MWac ground-mounted solar photovoltaic (PV) power plant. The contract is valued at Rs 780 crore and is scheduled to be executed over a 15-month period.The company will manage the entire lifecycle of a significant solar power project, beginning with the complex task of land acquisition and extending through the detailed phases of design, engineering, procurement and logistics. The project involves the manufacturing, supply, erection, inspection, installation, testing and commissioning of a 150 MWac grid-connected ground-mounted solar photovoltaic (PV) power plant.
Gensol will develop the necessary power evacuation infrastructure to connect the facility to the state transmission utility (STU) substation. Additionally, the contract includes three years of operation and maintenance (O&M) services for the project, inclusive of maintenance of the plant's switchyard and its extensive transmission infrastructure.
Shilpa Urhekar, chief executive officer, Solar EPC (India), Gensol Engineering, said, " We are deeply grateful for the trust placed in us by one of Indias leading public sector utilities. This significant project is a testament to Gensols growing expertise as a provider of comprehensive, end-to-end solar solutions. It will play a vital role in advancing Indias clean energy transition, aligning with our firm commitment to contributing to the right energy mix. We look forward to further collaborating with the state of Maharashtra to support and enhance Indias renewable energy goals.
Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
The company's consolidated net profit doubled to Rs 20.48 crore in the quarter ended June 2024 as against Rs 10.24 crore during the previous quarter ended June 2023. Sales rose 104.11% to Rs 295.15 crore in Q1 FY25 over Q1 FY24.
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