Gensol Engineering jumps on bagging Rs 897-cr order from NTPC Renewable Energy

Gensol Engineering surged 6.43% to Rs 759.25 after the company secured an EPC contract worth approximately Rs 897.47 crore from NTPC Renewable Energy for the development of a 225 MW Solar PV project at the GSECL Solar Park, Gujarat.

This contract includes the development of 225MW-AC (Equivalent To 276 MWDC) grid-connected Solar PV projects at GSECL Solar Park (Stage-III), Khavda located in the Rann of Kutch, Gujarat.

The total bid value for this project, including operations and maintenance (O&M) for a duration of three years, amounts to approximately Rs 897.47 crore. The contract between NTPC REL and Gensol Engineering was formally executed last week, marking a substantial milestone for both entities in their pursuit of advancing renewable energy infrastructure in India.

 

Shilpa Urhekar, chief executive officer, Solar EPC (India) at Gensol Engineering, stated, We are thrilled to announce that we have been awarded the prestigious PV project contract by NTPC Renewable Energy (NTPC REL) at GSECL SOLAR PARK (STAGE-III), located in the Rann of Kutch, Gujarat. This collaboration demonstrates the belief in Gensols leadership in project management proficiency and renewable expertise. Recognizing the customer needs, and excellent execution together with world-best technology and O&M expertise is what sets apart us from other EPC players.

This order is paramount for fulfilling Indias escalating need for clean and sustainable energy, in line with the governments vision to fulfill this need. We remain pledged to make our utmost contributions in all respects.

Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.

The company's consolidated net profit surged 60.5% to Rs 29.38 crore in Q2 FY25 as against Rs 18.30 crore posted in Q2 FY24. Revenue rose 13.8% YoY to Rs 346.49 crore in Q2 FY25 over Q2 FY24.

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