Gensol Engineering to Develop Solar Projects Collectively Worth 897 Cr. for NTPC-REL

Gensol Engineering Limited has secured a contract from NTPC Renewable Energy Ltd. for developing solar power projects collectively worth Rs. 897.47 crore. As per Gensol’s press release dated 26th December 2024, the company will develop 225 MW of grid-connected solar projects for stage-III of Gujarat State Electricity Corporation Limited (GSECL) Solar Park in Khavda, Gujarat.

Scope of work in these projects include Engineering, Procurement and Construction (EPC) of these solar power projects. Post completion, the company will provide 3 years of Operation & Maintenance (O&M) services for these projects. Commenting on these win, Ms. Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) at Gensol Engineering Ltd., said “This collaboration demonstrates the belief in Gensol’s leadership in project management proficiency and renewable expertise”.

Following this order win, the company’s share price showed a jump of 6.52%. Gensol Engineering’s share price stood at Rs. 713.45 on the day the company announced this order and Rs. 759.95 on the next trading day. It is also worth noting that the company reached its highest circuit in the past seven days.

Earlier in November 2024, Gensol Engineering had won Rs. 780 crore solar power project in Maharashtra.