Gensol Engineering plans Rs 3.5 billion sale of US subsidiary

Gensol Engineering Limited has signed a non-binding term sheet for a Rs 3.5 billion strategic transaction to sell its US subsidiary, Scorpius Trackers, to a major renewable energy solutions provider in the US. 

The deal includes the transfer of exclusive global intellectual property rights for Scorpius Trackers’ advanced solar tracking technology. The transaction will be completed in two tranches, with full closure expected by March 2026, subject to due diligence and regulatory approvals.

Proceeds from the sale will be reinvested in expanding Scorpius Trackers’ operations in India, strengthening Gensol’s balance sheet, and supporting clean energy initiatives. 

Scorpius Trackers, India, will remain a wholly owned subsidiary of Gensol Engineering, retaining intellectual property for Indian projects and continuing its focus on the domestic market.