Gensol Engineering Secures ₹780 Crore Solar PV Project in Maharashtra
Key Ideas
- Gensol Engineering has won a significant ₹780 Crore solar PV project in Maharashtra, involving full turnkey EPC services for a 150 MWac power plant.
- The company's stock has seen a 2.87% increase in value post the announcement, indicating investor confidence in the project.
- Besides the solar project, Gensol is also venturing into green hydrogen by partnering with Matrix Gas & Renewables to develop India's first green hydrogen-powered steel facility.
- The green hydrogen pilot plant aims to enable sustainable steel production using renewable energy sources, aligning with India's National Green Hydrogen Mission.
Gensol Engineering has secured a major ₹780 Crore solar PV project in Maharashtra from a public utility. The project involves the construction of a 150 MWac ground-mounted solar PV power plant with a 15-month completion timeline. Gensol will provide full turnkey EPC services, covering the entire project lifecycle. The company's stock has shown a positive trend, gaining 2.87% post the announcement and a total of 5.20% in the last year. Additionally, Gensol reported a 29% year-over-year growth in net profit. In a strategic move towards renewable energy, Gensol has partnered with Matrix Gas & Renewables to develop India's first green hydrogen-powered steel facility. This pioneering 50 TPD pilot plant aims to support sustainable steel production using 100% green hydrogen, representing a significant advancement in renewable energy applications in India.
Topics
India
Green Hydrogen
Renewable Energy
Stock Market
Steel Production
Solar Project
Profit Growth
EPC Services
Turnkey Project
Latest News