Gensol Engineering Limited has recently announced that it has secured an Engineering, Procurement and Construction (EPC) contract worth ₹968 crore for the development of a 245 MW solar photovoltaic project at the Khavda RE Power Park in Gujarat’s Rann of Kutch. The contract, which has been awarded by an undisclosed public sector undertaking, also includes three years of operations and maintenance services.
As a result of this news, the shares of Gensol Engineering Limited were trading at ₹732.50, reflecting an increase of ₹19.20 or 2.69 per cent on the NSE at 2.10 pm today.
This contract at the Khavda Solar Park marks Gensol’s second major project this month, following a previous contract worth ₹1,063 crore for a 275 MW solar project. With these two projects combined, the company will be responsible for developing a total of 520 MW of solar capacity in what is expected to be the world’s largest hybrid renewable energy park.
Anmol Singh Jaggi, the Managing Director of Gensol Engineering, expressed that these consecutive contracts showcase the company’s dedication to providing sustainable energy solutions. Shilpa Urhekar, the CEO of Solar EPC (India), stated that these contracts are a testament to the trust in Gensol’s engineering expertise.
Established in 2012, Gensol Engineering has successfully executed over 770 MW of solar projects across India. The company has also expanded into electric vehicle manufacturing, with a facility in Pune that has a capacity of producing 30,000 vehicles annually. Additionally, Gensol offers EV leasing solutions, battery energy storage solutions, and is involved in the development of green hydrogen production infrastructure.
Published on February 7, 2025.
