Gensol Engineering Limited, a major player in India's renewable energy and solar EPC sector, has reached a new milestone. As of October 31, 2024, its solar EPC order book has crossed INR 5,400 crore, reflecting its growing presence and credibility in solar power engineering, procurement, and construction (EPC). The recent orders encompass substantial projects from Public Sector Undertakings (PSUs) and private entities, to be executed over the next 12 to 18 months, highlighting the increasing demand for sustainable energy solutions.

Overview of Gensol’s Expanding Solar Order Book

The recent orders span various categories in both the public and private sectors, with several major projects scheduled. Key segments include large-scale solar installations, Battery Energy Storage Systems (BESS), and green hydrogen production. Below is a breakdown of notable orders within Gensol’s solar EPC portfolio:

This diverse array of projects positions Gensol as a leading solar EPC provider with operations expanding internationally, especially in the Middle East. These large-scale projects emphasize the company's commitment to renewable energy solutions and align with India's broader energy goals.

Revenue Visibility Beyond Solar EPC

Gensol’s revenue visibility extends well beyond its current solar order book. Including future commitments from the Battery Energy Storage Systems (BESS) and solar power generation segments, the company has a total revenue visibility of over INR 10,000 crore:

1. Solar Order Book: INR 5,424 crore
2. Battery Energy Storage System (BESS): INR 3,138 crore over 12 years
3. Solar Power Generation: INR 1,820 crore over 25 years

This robust pipeline indicates not only the company’s stability but also its growth trajectory in long-term sustainable energy infrastructure.

Strategic Expansions in EV Manufacturing and Hydrogen Energy

Alongside solar, Gensol is making strides in electric vehicle (EV) manufacturing. Recently, Gensol established an advanced EV manufacturing facility in Pune, India, with an annual production capacity of 30,000 vehicles. Certified by the Automotive Research Association of India (ARAI), Gensol’s EVs are designed to cater to urban fleet and cargo segments and are part of its larger strategy to address India’s expanding electric mobility market.

Moreover, Gensol is also active in green hydrogen production. By entering this domain, the company aims to support India’s energy diversification goals through innovative and sustainable solutions. The company’s expertise in renewable energy positions it as a reliable partner in the green hydrogen sector.

Future Prospects and Strategic Outlook

In a statement, Mr. Anmol Singh Jaggi, Chairman and Managing Director of Gensol Engineering, emphasized the importance of the company’s expanding order book. He noted that the increased demand for solar EPC and BESS solutions demonstrates the company’s capability to manage large-scale projects and contribute to India’s renewable energy landscape. “With an unexecuted order book over INR 5,000 crore, we are prepared for significant growth in India’s solar sector. Our diversification into Battery Energy Storage Systems (BESS) and power generation enhances our revenue visibility, positioning us to exceed INR 10,000 crore,” said Jaggi.

Gensol’s Commitment to Sustainable Development

Established in 2012, Gensol Engineering Limited has grown to become a leading renewable energy company in India, with expertise in solar EPC and EV solutions. The company employs over 500 professionals and has successfully executed 770 MW of solar projects, including rooftop, ground-mount, and floating solar installations. Its strategic acquisition of Scorpius Trackers further enhances its solar tracking solutions, providing clients with high-quality, single-axis solar tracking systems.

Electric Mobility and Leasing Solutions: Gensol’s EV solutions include EV leasing for various sectors, such as PSUs, educational institutions, and multinational corporations. This expansion into EV leasing allows Gensol to serve clients across diverse industries, including ride-hailing services, employee transportation, and last-mile delivery.

By providing a wide array of renewable energy and sustainable transport solutions, Gensol Engineering Limited is at the forefront of India’s journey toward energy self-reliance and environmental sustainability. The company’s active role in solar EPC, Battery Energy Storage Systems (BESS), EV manufacturing, and green hydrogen production underscores its commitment to transforming India’s energy landscape.

In conclusion, with a strong solar EPC order book and innovative solutions across renewable energy and electric mobility, Gensol Engineering Limited is well-positioned to capitalize on future growth opportunities. As the renewable energy sector continues to expand, Gensol’s comprehensive approach to sustainable energy solutions makes it a critical player in India’s green economy, driving long-term growth and supporting the nation’s renewable energy ambitions.

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The Current active IPO is Sagility India Limited, Swiggy and ACME Solar Holdings.

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