Gensol secures INR 967.98 Crore EPC contract for 245 MW Solar PV Project

Mumbai, January 07, 2025: Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a leading player in the renewable energy sector, has further solidified its position as a key driver of India's energy transition by securing a significant EPC contract. The company has been awarded a contract by a renowned public sector undertaking for the development of a 245 MW Solar PV Project at the prestigious Khavda RE Power Park in Gujarat. This contract, valued at approximately INR 967.98 Crores (inclusive of GST), includes three years of comprehensive O&M services.

This marks Gensol's second major project win at the Khavda Solar Park within a short span, underscoring the company's strong market presence and execution capabilities. Earlier this month, the company secured an EPC contract worth INR 1062.97 Crores for a 275 MW Solar PV Project – part of the larger 795 MW Solar PV Development Package – at the same location. With these two significant projects, Gensol will now be responsible for the cumulative development of 520 MW of Solar PV capacity at the Khavda Solar Park, a site poised to become the world's largest hybrid renewable energy park.

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Anmol Singh Jaggi, MD and Chairman, Gensol Engineering, shared, “These back-to-back orders at Khavda Solar Park are a testament to Gensol's commitment to delivering high-quality, sustainable energy solutions. India is on a remarkable journey towards energy independence, and renewable energy is at the forefront of this transformation. Gensol is proud to be a key contributor to this national endeavor.”

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Commenting on the win, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) in Gensol Engineering Ltd., stated, “We are deeply honored to have signed the contract with a leading public sector undertaking for this prestigious project. Securing two major projects at Khavda within a short timeframe reflects the trust and confidence placed in Gensol's engineering expertise, and firm commitment to customer satisfaction. We are excited to contribute to the nation's renewable energy goals and further strengthen our position as a leading EPC player in the Indian market.”

By leveraging its expertise in solar EPC services, Gensol remains committed to driving sustainable energy solutions that align with the nation’s vision for a greener and more energy- efficient future. By harnessing innovative technologies and fostering a culture of excellence, the company aims to play a pivotal role in decarbonizing the nation's energy landscape, ensuring a greener future for generations to come.

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