Gensol Engineering’s Solar EPC Order Book Crosses INR 5,400 Crore
Gensol Engineering's solar EPC order book reaches INR 5,424 Crore, including PSUs and private sector projects. With additional BESS and solar power generation contracts, Gensol's total revenue visibility surpasses INR 10,000 Crore, driving sustainable growth.
November 06, 2024. By EI News Network
The firm said in its statement that the projects include solar projects from both public sector undertakings (PSUs) and private clients. The orders, which will be executed within the next 12 to 18 months, encompass a variety of categories, including Independent Power Producers (IPP) from PSUs, commercial and industrial (C&I) projects, and international contracts in the Middle East.
Additionally, Gensol has expanded its portfolio to include orders for Battery Energy Storage Systems (BESS), further solidifying its commitment to advancing renewable energy technologies and addressing the challenges of energy intermittency in the sector.
The company’s total revenue visibility stands at over INR 10,000 Crore, combining the value of its solar EPC order book, BESS contracts, and long-term solar power generation projects. Gensol's solar order book alone is valued at INR 5,424 Crore, with additional significant revenue coming from its BESS orders (INR 3,138 Crore) and solar power generation contracts (INR 1,820 Crore).
Commenting on this, Anmol Singh Jaggi, Chairman and Managing Director of Gensol Engineering, highlighted the company's capability to manage large-scale projects and contribute significantly to India’s renewable energy targets. He emphasised that Gensol's diverse business operations, including the growing sectors of Battery Energy Storage and solar power generation, position the company for sustainable growth and long-term success.
As per the firm, the company has successfully executed over 770 MW of diverse solar installations, including rooftop, ground-mounted, and floating solar projects across India. In addition to its expertise in solar EPC services, Gensol has ventured into electric mobility solutions, with a state-of-the-art EV manufacturing facility in Pune.
The company has also expanded its reach through the acquisition of Scorpius Trackers, a provider of single-axis solar tracking systems, enhancing its position in the renewable energy market.
Gensol is also focused on the future of energy storage and green hydrogen, offering advanced energy management solutions through its Battery Energy Storage Systems (BESS) and contributing to the development of green hydrogen infrastructure in India. With these initiatives, Gensol is poised to play a pivotal role in the nation's transition towards sustainable and cleaner energy solutions.
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