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Gensol Engineering secures Rs 7.8 billion solar EPC order in Maharashtra

India, News

Gensol Engineering Limited has won a Rs 7.8 billion turnkey engineering, procurement, and construction (EPC) contract from a major public sector utility in Maharashtra for a 150 MW ground-mounted solar PV plant.  The project, slated for completion within 15 months, covers land acquisition, design, engineering, procurement, manufacturing, installation, testing, and commissioning, alongside infrastructure development to connect to the STU substation.  The contract also includes three years of operation and maintenance for the plant, covering switchyard…

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Gensol Engineering’s Q3 net profit rises by 29% to Rs 228.9 million

India, News

Gensol Engineering Limited has reported a net profit of Rs 228.9 million for the quarter ending September 2024, marking a 28.96% increase from Rs 177.5 million in the same quarter last year.  The company’s total income rose by 13.76% to Rs 3,468.2 million, up from Rs 3,048.7 million in the corresponding period of the previous year, reflecting steady growth in its financial performance.

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Gensol Engineering establishes three wholly-owned subsidiaries

India, News

Gensol Engineering Limited has incorporated three new subsidiaries: Innogrid Energy Private Limited, Hari Shakti Energy, and Shakti Sangini Energy Private Limited.  Gensol has subscribed to 10,000 equity shares in each subsidiary, representing 100 percent of their total share capital, with an investment of Rs 100,000 per company. These subsidiaries are now wholly-owned by Gensol Engineering.

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Gensol, Matrix to develop India’s first green steel production facility

India, News

Gensol Engineering has partnered with Matrix Gas & Renewables to establish India’s first green steel production facility using 100% green hydrogen.  The project, with a total capital expenditure of Rs 3.21 billion, will receive 50% capex incentives from the Government of India under the National Green Hydrogen Mission. Sanctioned as one of three pilot projects by MECON, in coordination with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE), the…

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Gensol-Matrix consortium emerges as L1 for India’s first hydrogen project

India, News

Gensol Engineering, in partnership with green hydrogen infrastructure developer Matrix Gas & Renewables, has emerged as the lowest bidder (L1) for India’s first biomass-to-green hydrogen project. The Rs 1.64 billion project aims to establish a facility capable of processing 25 TPD (tonnes per day) of bio-waste to produce 1 TPD of green hydrogen. The consortium has teamed up with Westinghouse, USA, known for its experience in commissioning plants globally, to use its pre-gasification plasma-induced radiant…

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Gensol emerges as L1 bidder for green hydrogen project in Uttar Pradesh

India, News

Gensol Engineering has been declared the lowest bidder (L1) for a green hydrogen project in Uttar Pradesh, with a bid value of Rs 1.64 billion. The tender, floated by NTPC, involves the generation of green hydrogen using plasma gasification technology from municipal solid waste (MSW) and refuse-derived fuel (RDF) or agricultural waste. The project will be executed at NTPC’s Netra facility in Greater Noida.

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Gensol establishes US subsidiary to supply 2,000 MW of solar trackers

India, News

Gensol Engineering, a key player in the renewable energy sector, has announced the establishment of a subsidiary in the United States, aiming to supply over 2,000 MW of solar trackers annually by 2028.   The new subsidiary, Scorpius Trackers Inc, will be based in California, positioning the company to capitalize on the growing demand for solar energy infrastructure. The U.S. market currently deploys over 25,000 MW of solar trackers annually, making it the largest in the…

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Gensol secures 16 MW rooftop solar project in Madhya Pradesh

India, News

Gensol Engineering announced that it has secured a 16-megawatt rooftop solar project from a textile company in Madhya Pradesh, under the commercial and industrial (C&I) segment. The project will be executed on an engineering, procurement, and construction (EPC) basis. The company received a Letter of Award (LOA) for the turnkey EPC rooftop solar project, which will be completed in six months. The project will use high-efficiency bi-facial solar modules that absorb sunlight from both sides,…

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Gensol-Matrix win Rs 4.5 billion PLI award for 237 MW hydrogen electrolyser project

India, News

Gensol Engineering Ltd and Matrix Gas & Renewables Ltd have secured a Rs 4.5 billion production-linked incentive (PLI) award to manufacture a 237 MW hydrogen electrolyser. The award is part of a competitive tender issued by the Solar Energy Corporation of India (SECI), with the consortium’s total secured capacity reaching 300 MW, including a previous 63 MW award under the first tranche.

Power Sector News Roundup for November 5, 2024

Power Bytes

Global: ACWA Power secures $240 million IFC loan for Uzbekistan’s RE projects HydroWing and PLN to develop Indonesia’s first tidal energy plant Huasun Energy to supply 1 GW of HJT solar modules for Power China’s offshore PV project Avantus sells Catclaw Solar and Energy Storage Project to DESRI India: Premier Energies’ subsidiaries receive orders worth Rs 5.6 billion Gensol Engineering secures Rs 7.8 billion solar EPC order in Maharashtra NTPC and ONGC partner to drive…