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Gensol Engineering Secures ₹88 Crore Solar Project in Punjab

Updated on: Dec 18, 2024, 4:02 PM IST
Gensol Engineering has secured a 22 MW solar project in Punjab, worth ₹88 Crore, to help a steel manufacturer reduce its carbon footprint and enhance sustainability.
Gensol Engineering Secures ₹88 Crore Solar Project in Punjab
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Gensol Engineering Limited informed the exchanges that it secured a significant 22 MW ground-mounted solar PV power project in Punjab, valued at ₹88 Crore. This project, awarded by a leading steel manufacturer, will be executed over the next six months.

The installation will feature high-efficiency Bi-facial solar modules, optimised for maximum energy generation and long-term performance. This project aligns with India’s renewable energy targets, contributing to the country’s transition toward more sustainable energy sources.

Enhancing Sustainability in Manufacturing

The solar power plant will help the steel manufacturer reduce its carbon footprint and make its production processes more environmentally friendly. With this development, Gensol Engineering continues to showcase its expertise in executing large-scale renewable energy projects. The company’s ability to deliver high-quality and timely solutions further strengthens its position as a leader in the solar industry, catering to the growing demand for sustainable energy solutions in India’s commercial and industrial sectors.

Commenting on the development, the Chief Executive Officer of Solar EPC (India) at Gensol Engineering Ltd, Shilpa Urhekar, said, “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, end-to-end solar solutions for Commercial, industrial and Corporates to meet their Sustainability and Energy transition commitment. It will play a vital role in advancing India’s clean energy transition, aligning with our firm commitment to contributing to the low-carbon energy mix.”

He further added, “We look forward to further collaborating with the state of Punjab and the Steel Industry to support and enhance India’s renewable energy goals and decarbonise the supply chain & manufacturing.”

On December 18, 2024, Gensol Engineering share price opened at ₹775.50, touching the day’s high at ₹790.00, as of 9:48 AM on the NSE.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 18, 2024, 10:06 AM IST

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