Gensol Engineering shares rises over 6%, secures Rs 897 crore contract from NTPC Renewable

Solar Stock Gensol Engineering announced on Thursday that it has secured a Rs 897-crore contract from NTPC Renewable Energy Limited (NTPC REL) to develop 225 MW grid-connected solar projects. According to a regulatory filing, the project will be developed on an EPC (engineering, procurement, and construction) basis at the GSECL Solar Park (Stage-III) in Khavda, located in the Rann of Kutch, Gujarat.

The contract involves the development of 225 MW AC (alternating current), equivalent to 276 MW DC (direct current), grid-connected solar projects.

The total bid value, including operations and maintenance (O&M) for three years, amounts to approximately Rs 897.47 crore, inclusive of taxes and duties. The contract between NTPC REL and Gensol Engineering was finalized last week.

Shares of Gensol Engineering surges over 6.7% at Rs 759.35. Over one month, the stock has lost 11.4% of its value.

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