Gensol Engineering has signed a non-binding Term Sheet for an Rs 350 crore strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc., to a major Renewable Energy Solutions provider in the US. The deal includes the transfer of exclusive and global Intellectual Property (IP) rights (except India) for Scorpius Trackers' advanced solar tracking technology.
This transaction underscores Gensol's strategy to monetize high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company's financial position. The deal will be completed in two tranches, with full closure expected by March 2026, subject to due diligence, customary/statutory approvals, and closing conditions.
The proceeds from this transaction will be strategically redeployed to expand Scorpius Trackers' operations in India, fuel solar EPC business growth, and support Gensol's broader clean energy initiatives. This reinvestment aligns with the company's long-term vision to enhance cash flow and strengthen the balance sheet, ensuring sustained value creation for shareholders.
While the deal transfers global IP rights (excluding India) to the US entity, Scorpius Trackers, India, remains a wholly owned subsidiary of Gensol Engineering, continuing to focus on the Indian market. Scorpius India will retain its IP for Indian projects, ensuring continued innovation and market leadership in one of the world's fastest-growing solar markets.
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