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Gensol Engineering Secures Contract For Solar Projects From NTPC REL

Updated on: Dec 27, 2024, 3:24 PM IST
Gensol Engineering has been awarded an EPC contract worth ₹897 Crore for a 225MW solar PV project at GSECL Solar Park in Gujarat.
Gensol Engineering Secures Contract For Solar Projects From NTPC REL
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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.

Project Details

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. 

Gensol CEO Statement

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.

Gensol Engineering Ltd. Q2 Results

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.

Share Price Performance 

Gensol Engineering Ltd. shares reached a high of ₹779.95 and are currently trading at ₹763.30 on the NSE at 2:43 PM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Dec 27, 2024, 3:24 PM IST

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