Gensol Engineering Ltd wins orders for building solar power projects of over 247 MWp cumulative capacity

Gensol Engineering Limited ("The Company") has in the month of February 2023 in the normal course of business, received purchase orders from our reputed clients for the development of solar power projects aggregating to a capacity of over 247 MWp in the states of Andhra Pradesh, Haryana, Gujarat, Jharkhand, Kerela, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Uttarakhand and West Bengal.

Out of the eight deals closed by Gensol, seven are based on the full turn-key EPC model (67.35 MWp) one (180 MWp) is for on Balance of System (BoS). Of these, while two (2) projects are to be erected over land (182.3 MWp) and one over water bodies (44 MWp), the other five (5) will be raised over the rooftops (21.05 MWp) of the factories of the clients.

Of these wins, three projects have carved momentous recesses in the entire portfolio developed by Gensol thus far. While one is the largest ground mount capacity of 180 MWp in Gujarat taken up by Gensol for an India-based renewable energy platform, another is the largest single rooftop project of 10.56 MWp capacity that it will execute for a notable textile manufacturer in Madhya Pradesh.

More piquantly, one of the projects is its largest floating solar project (44 MWp) and would be installed over water bodies in the state of Jharkhand and West Bengal. Yet another notable addition is a 2.3 MWp ground mount project for a metals major in the state of Kerala. Then again, there are two rooftops of 1 MWp each that are repeat from orders from a notable auto ancillary manufacturer for their plants in Gujarat and Jharkhand, taking the tall to 4 projects for this particular client.

The scope of work includes design, engineering, supply, construction, testing, and commissioning of these projects alongwith comprehensive operation and maintenance services after successfully commissioning the plant.

The total value of these projects is ₹5,01,19,21,552 (Indian Rupees Five Hundred and One Crores Nineteen Lakhs Twenty-One Thousand Five Hundred and Fifty-Two Only) inclusive of taxes.

The addition of these projects have taken total order book to over 1025 Crores.

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 932.00 as compared to the previous close of Rs. 966.35. The total number of shares traded during the day was 19076 in over 182 trades.

The stock hit an intraday high of Rs. 987.50 and intraday low of 918.05. The net turnover during the day was Rs. 18051269.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 SolarPowerProjects OrderWin OrderBook