This green energy sector company got an order worth ₹ 780 crore in Maharashtra, know whether there can be a rise in the share.

The Company in the Green Energy Sector, Gensol Engineering, Gets an Order Worth ₹780 Crore in Maharashtra

Gensol Engineering, a prominent player in India’s green energy arena, has secured a significant turnkey engineering, procurement, and construction (EPC) contract for a 150 MW ground-mounted solar photovoltaic (PV) power plant in Maharashtra. This ambitious project is set to be completed in 15 months and encompasses land acquisition, design, engineering, procurement, and logistics. Gensol will oversee the design, supply, construction, inspection, installation, testing, and commissioning of the facility.

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The contract also includes establishing the infrastructure needed to connect electricity to State Transmission Utility (STU) substations, along with three years of operation and maintenance for the plant’s switchyard and transmission infrastructure. Shilpa Urhekar, CEO of Solar EPC at Gensol, highlighted this project as a testament to Gensol’s expertise in providing comprehensive solutions.

Future Plans

In addition to this project, Gensol has partnered with Matrix Gas & Renewables Limited to spearhead India’s first green hydrogen-powered steel facility, aligning with the National Green Hydrogen Mission. This initiative aims to produce steel using 100% green hydrogen, marking a significant step towards sustainable manufacturing.

Recently, Gensol reported a 29% year-on-year growth in net profit, reaching ₹22.93 crore in the September quarter, signaling strong financial health and promising future prospects.