Gensol Engineering provides comprehensive EPC and solar advisory services. The firm is involved in delivering technical due diligence, in-depth engineering, quality assurance, construction oversight, and various consulting services for solar initiatives in multiple countries, including India.
Gensol Engineering’s shares rose by over 7% to ₹779.95, a high traded in intraday following the announcement that the company had secured an EPC contract valued at roughly ₹897.47 crore from NTPC Renewable Energy for a 225 MW Solar PV project at the GSECL Solar Park in Gujarat.
This contract encompasses the creation of grid-connected Solar PV projects with a capacity of 225 MW-AC (equivalent to 276 MWDC) at GSECL Solar Park (Stage-III), located in Khavda in the Rann of Kutch, Gujarat. The total bid for this project, which includes operations and maintenance (O&M) for three years, is approximately ₹897.47 crore.
Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) at Gensol Engineering Ltd., stated, “We are thrilled to announce that we have been awarded the prestigious PV project contract by NTPC Renewable Energy Limited (NTPC REL) at GSECL Solar Park (Stage-III), located in the Rann of Kutch, Gujarat.
This collaboration highlights Gensol’s leadership in project management and renewable energy expertise. By combining customer-centric solutions with top-tier technology and O&M excellence, Gensol stands out among EPC players. This order plays a pivotal role in meeting India’s growing demand for clean energy, aligning with the government’s vision for sustainability. Gensol remains committed to contributing significantly to this mission.
The company’s consolidated net profit surged 60.5% to ₹29.38 crore in Q2 FY25 as against ₹18.30 crore posted in Q2 FY24. Revenue rose 13.8% YoY to ₹346.49 crore in Q2 FY25 over Q2 FY24.
Gensol Engineering Ltd. shares reached a high of ₹779.95 and are currently trading at ₹763.30 on the NSE at 2:43 PM.
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Published on: Dec 27, 2024, 3:24 PM IST
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