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Gensol Engineering secures Rs 7.8 billion solar EPC order in Maharashtra

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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

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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

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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

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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…