Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a prominent name in renewable energy solutions specializing in solar EPC (Engineering, Procurement, and Construction), has secured an INR 88 crore contract to develop a 22 MW ground-mounted solar PV power plant. This project comes from a leading steel products company in Punjab, further bolstering Gensol's track record in delivering renewable energy infrastructure.

The project, which is set to be completed within six months, will utilize high-efficiency bifacial solar modules. These modules are specifically chosen to ensure maximum energy output while ensuring durability and long-term performance. The installation aligns with India’s ambitious renewable energy targets and provides a substantial boost to green energy infrastructure in the industrial sector.

Details of the Project

The awarded project involves the construction of a 22 MW ground-mounted solar power plant in Punjab. Gensol, known for its comprehensive solar solutions, will oversee the entire turnkey execution of the project. By leveraging its advanced engineering design and operational expertise, Gensol aims to achieve optimal energy efficiency for the client.

The introduction of bifacial solar modules marks a significant step in utilizing advanced solar technology. These modules capture sunlight from both sides, maximizing the energy yield and supporting long-term cost-effectiveness for the client.

This project highlights the increasing adoption of renewable energy solutions within the Commercial and Industrial (C&I) sector, where companies are increasingly investing in solar power to meet their sustainability goals and reduce carbon footprints.

Significance of the Project for India’s Renewable Goals

India has been on an accelerated path to achieving its renewable energy targets, with a clear focus on transitioning towards a low-carbon economy. This project aligns with:

• Decarbonizing manufacturing processes within the steel industry.

• Promoting sustainability in industrial energy consumption.

• Strengthening green energy infrastructure in Punjab.

Gensol's initiative will enable the client to integrate solar power into its operations, leading to significant reductions in energy costs and environmental impact. Such partnerships between EPC providers like Gensol and large industries pave the way for broader adoption of clean energy solutions.

Company’s Statement

Shilpa Urhekar, Chief Executive Officer, Solar EPC (India), Gensol Engineering Ltd., expressed gratitude for the project award, stating:

"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 solar solutions for the commercial, industrial, and corporate sectors to meet their sustainability and energy transition commitments. It will play a vital role in advancing India’s clean energy transition and decarbonizing the supply chain."

She further emphasized Gensol's commitment to delivering high-quality renewable energy solutions while contributing to India's energy goals.

Strategic Impact for Gensol

This project further solidifies Gensol's position as a leading player in India’s solar EPC market. The company has demonstrated strong expertise in executing turnkey solar solutions, including:

• Rooftop solar installations.

• Ground-mounted solar projects.

• Floating solar installations.

Gensol's success in securing large-scale contracts highlights its competitive edge in delivering on-time and reliable solar solutions for commercial and industrial clients.

About Gensol Engineering Limited

Founded in 2012, Gensol Engineering Ltd. is a leading provider of solar EPC services and electric mobility solutions. The company operates across key sectors, including:

1. Solar EPC: Successfully executed 770 MW+ solar projects across India, including rooftop, ground-mounted, and floating solar solutions.

2. Electric Vehicles (EV): Gensol manufactures EVs at its state-of-the-art facility in Pune, with a production capacity of 30,000 vehicles annually. The company also offers EV leasing solutions, catering to PSUs, MNCs, logistics companies, and more.

3. Battery Energy Storage Systems (BESS): Gensol is advancing its energy solutions with innovative energy storage systems and efficient management tools.

4. Green Hydrogen Infrastructure: The company is actively developing turnkey infrastructure for green hydrogen production, contributing to India's clean energy ambitions.

Key Achievements

• Ranked among the Top 10 EPC players in India.

• Acquired Scorpius Trackers in 2023, strengthening its single-axis solar tracking solutions.

• Consistently delivering projects on time with cutting-edge technology.

Conclusion

The awarding of the 22 MW ground-mounted solar PV project worth ₹88 crore underscores Gensol Engineering’s leadership in India’s renewable energy space. By leveraging innovative technologies like bifacial solar modules, Gensol will play a significant role in enabling sustainable practices within the steel industry in Punjab.

This project reflects Gensol's commitment to advancing India’s clean energy transition while maintaining its position as a trusted EPC partner for large-scale renewable energy projects. As industries embrace solar power for energy efficiency and sustainability, Gensol Engineering remains at the forefront, delivering reliable and high-quality solutions for a greener future.

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