Gensol Engineering Ltd shares rose by 5% on Tuesday’s trading session after the company announced it had secured 116 MW solar projects worth ₹600 crore in Gujarat.
Gensol Engineering informed the exchanges that it won the bid for these solar projects, which will be spread across 27 locations under the purview of Paschim Gujarat Vij Co. Ltd. (PGVCL), the state electricity distribution company.
The company stated, “Gensol Engineering has emerged as the winning bidder for 116 MW (150 MWp) of solar projects in Gujarat with an approximate EPC revenue of ₹600 crore.”
The projects are expected to be operational within 12 months following the issuance of the Letter of Award (LoA). These projects aim for feeder-level solarisation, where solar power projects can be deployed to meet the power needs of single or multiple agricultural feeders from a distribution sub-station.
As of 9:55 AM, Gensol Engineering shares were trading 5% higher at ₹985.15 on NSE.
Gensol Engineering is a leading player in the renewable energy sector, specializing in solar power engineering, procurement, and construction (EPC) services, along with electric mobility solutions.
