Gensol Group

Gensol Engineering share price surged 5.45 per cent at Rs 860 a piece on the BSE in Monday's intraday deals

The rise in Gensol Engineering share price came after the company announced that it has secured a contract win of 23MWp for a rooftop solar project in Dubai worth Rs 186 crore.

Gensol Engineering share price gained up to 2.87 per cent at Rs 935 per share on the BSE in Wednesday's intraday deals

It announced they have emerged as the lowest bidder for the EPC of India's first biomass to green hydrogen project.

The project is scheduled for completion within 18 months, the company said.

Homegrown Gensol Engineering on Wednesday said it has set up a subsidiary in the US with an aim to supply over 2,000 MW solar trackers annually by 2028 to key renewable energy markets. The first US office of the newly formed arm Scorpius Trackers Inc will be located in California, positioning the company at the heart of one of the most dynamic renewable energy markets globally, Gensol Engineering said in a statement. "Gensol Engineering announces entry into the US market with Scorpius Trackers Inc. With a goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc aims to capitalise on its decade-long experience," the company said. It has over 1,000 MW of contracted orders across key markets including India, Africa, Japan, and the Middle East, it said. The US solar tracker market, which is the largest in the world deploys trackers aggregating over 25,000 MW annually. The US tracker market is growing at a robust compound annual growth rate (CAGR) of more than 20 per cent,

Gensol, Matrix Gas emerged as the winning consortium for a 237 MW hydrogen electrolyser manufacturing capacity PLI scheme, part of India's National Green Hydrogen Mission

Gensol Engineering on Monday posted over two-fold growth in standalone profit after tax (PAT) Rs 32.5 crore for the quarter ended June 2024 on higher revenues. It had reported a PAT of Rs 12.3 crore in the April-June period of the preceding 2023-24 financial year, the company said in an exchange filing. The company's revenues surged to Rs 275 crore from Rs 147 crore in the year-ago quarter. Gensol Engineering Ltd Chairman and Managing Director Anmol Singh Jaggi said, "Our performance in Q1 FY25 has been exceptional. Gensol is expanding its presence in current and new business segments like Solar, BESS (battery energy storage systems) & EV Leasing, which are poised for significant growth in the near future, boosting our overall profitability". The renewable energy space is experiencing rapid expansion, driven by increasing demand for sustainable solutions and supportive government policies, he added. Gensol Engineering recently bagged a Rs 463 crore solar plant project at Gujarat's

Shares of Gensol Engineering were locked in a 5 per cent upper circuit at Rs 983.90 per share on the BSE in Tuesday's intraday deals

The rise in stock came after the company emerged as a successful bidder for a 250-Mw/500 MWh battery energy storage system (BESS) tender floated by Gujarat Urja Vikas Nigam Limited

Gensol Engineering on Wednesday said it has emerged as a successful bidder for Gujarat Urja Vikas Nigam's 250 MW (500 MWh) Battery Energy Storage Project worth Rs 1,340 crore. The project will supply electricity on an 'on-demand' basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience, a company statement said. According to the statement, Gensol Engineering -- a pioneer in solar power engineering, procurement, and construction (EPC) services and electric mobility sector -- emerged as a successful bidder for 250 MW/500 MWh standalone battery energy storage systems (BESS) project from Gujarat Urja Vikas Nigam Ltd (GUVNL). The project will deliver 250 MW/500 MWh energy for two charge/discharge cycles per day. Gensol Engineering Managing Director Anmol Singh Jaggi said in the statement, "Securing this project enables us to make a ...

Gensol Engineering Ltd on Tuesday reported a nearly three-fold jump in its consolidated net profit to Rs 20 crore during the March 2024 quarter, on account of higher revenue. It had posted a profit after tax (PAT) of Rs 7 crore in the year-ago period, the company said in a regulatory filing. The company's total revenue also rose to Rs 412 crore in the January-March period as against Rs 167 crore a year ago. As of March 2024, the company said it had an order book of Rs 1,783 crore, of which Rs 1,448 crore worth of orders are from the solar segment. "We continue to take strategic bets like Scorpius Trackers's acquisition, Middle East entry, BESS (battery energy storage system) and we continue to expand into segments such as EV leasing and EV manufacturing," Anmol Singh Jaggi, Managing Director of Gensol Engineering, said. The company is a part of the Gensol group of companies which offers EPC services for the development of solar power plants.

Gensol Engineering on Tuesday announced the appointment of Shilpa Urhekar as Chief Executive Officer (CEO), Solar EPC (India). Urhekar will succeed Ali Imran Naqvi, who has been nominated to oversee the growth of Gensol Engineering Ltd and its subsidiaries, the company said in a BSE filing. Before joining Gensol, Urhekar served as the Country Head (India) at Sterling and Wilson Renewable Energy Ltd (SWREL), where her tenure saw successful bidding and execution of 6 Gigawatt (GW) renewable energy projects. She managed the multi-gigawatt Solar EPC projects across India. Under her guidance, SWREL achieved positive bottom-line growth and completed projects ahead of schedule. With over two decades of experience in the renewable energy industry, Urhekar's appointment marks a pivotal moment for Gensol's leadership team. She will primarily focus on strengthening the company's solar EPC business and solidifying its position as a key player in India's renewable energy landscape, according

Solar energy solutions provider Gensol Engineering has appointed Kapil K Nirmal as CEO - Middle East to lead its solar EPC (engineering procurement construction) business operations in the region. In his new role, Nirmal will spearhead the region's expansion for Gensol navigating market complexities, ensuring sustainable growth, and establishing Gensol as a prominent player in the Middle East solar PV sector, according to a statement on Wednesday. He has over 18 years of experience in business development, new market establishments, and avenues, having held several positions across top organisations like Emirates Electrical Engineering LLC, Al Rostamani Group, Siraj Power Contracting LLC and Amplus Energy Solutions. He is an alumnus of the University of Cambridge and IIM Calcutta. Gensol has a distinguished track record of over 600 MW in diverse solar projects, including rooftop, ground-mounted, and floating installations across India.

The stock has witnessed selling pressure off late owing to the company's name associated with Zenith Multi Trading DMCC (Zenith).

Vehicle approved by Automotive Research Association of India will have driver assistance feature

Renewable energy solutions provider Gensol Engineering on Wednesday said it has raised Rs 900 crore through the issue of warrants convertible into equity shares on a preferential basis. The equity fundraise saw participation from international and domestic participants including FPIs such as Elara India Opportunity Fund, Aries Opportunities Fund, Tano Investment Opportunities Fund etc. "Gensol Engineering, a leading renewable energy and electric mobility pioneer, today raised a significant Rs 900 crore equity capital through warrants convertible into equity shares on a preferential basis," a company statement said. The fundraise is subject to shareholders' approval at the EGM of the company to be held on March 2, 2024 and statutory approvals in compliance with SEBI Regulations. "We continue to build on our successful financial performance through the latest fundraise. This capital infusion strengthens Gensol's financial position, facilitating new possibilities with funds being ...

Gensol Engineering Ltd on Thursday said it has emerged as the lowest bidder for NHPC's Kargil Green Hydrogen Mobility Station EPC Project in Laddakh. Gensol has secured this project by demonstrating techno-commercial competency in collaboration with Matrix Gas & Renewables Ltd (Matrix), the company said in a statement. Gensol will develop a 500-kW grid-connected, ground-mounted solar power project that will provide energy to the hydrogen refuelling station. The scope of work includes the entire balance of plant EPC encompassing the green hydrogen system installation, storage, and dispensing facilities, in addition to the requisite civil and electrical infrastructure for the integrated solar and hydrogen operation in Ladakh, it said. The project is to be commissioned by the National Hydroelectric Power Corporation Ltd. (NHPC). The project is slated for completion within 12 months from the issuance of the work order. Ali Imran Naqvi, CEO-BD & Project Management of Gensol ...

Gensol Engineering on Wednesday said its standalone net profit more than doubled to Rs 15.68 crore for September quarter 2023-24, helped by higher income. It had clocked Rs 7.31 crore net profit in the year-ago period, the company said in a regulatory filing. Total income rose to Rs 201.61 crore from Rs 80.29 crore in the same quarter a year ago. Expenses were at Rs 180.21 crore, as against Rs 71.69 crore in the year-ago quarter. The company is a part of Gensol Group which offers engineering, procurement, and construction (EPC) services for 0development of solar power plants. Gensol has also established a electric vehicle manufacturing facility in Pune to develop and produce electric three-wheelers and four-wheelers. "H1FY24 has been a half year of remarkable leaps for Gensol, with 88 per cent revenue growth and 24 per cent PAT increase. "Strategic moves like the acquisition of Scorpius Trackers, international foray with EPC projects in the UAE, securing a Letter of Intent (LoI)

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