Gensol Engineering has secured a large turnkey EPC order from a leading public sector utility in Maharashtra. The project involves the development of a 150 MWac ground-mounted solar PV power plant, with a total contract value of Rs 780 crore, is set to be executed over a 15-month period.Gensol`s role will encompass the entire gamut of the project`s lifecycle �from the complex and critical task of land acquisition, highlighting the scale and intricacy of the undertaking, to the precise and detailed phases of design, engineering, procurement, and logistics. The scope also includes the manufacturing, supply, erection, inspection, installation, testing, and commissioning of a 150 MWac grid-connected ground-mounted solar PV power plant, along with the development of the associated power evacuation infrastructure to the STU substation. Additionally, the contract includes three (3) years of operation and maintenance (O&M) services for the project, inclusive of maintenance of the plant`s switchyard and its extensive transmission infrastructure. Powered by Capital Market - Live News

Net profit of Gensol Engineering rose 60.55% to Rs 29.38 crore in the quarter ended September 2024 as against Rs 18.30 crore during the previous quarter ended September 2023. Sales rose 13.76% to Rs 346.49 crore in the quarter ended September 2024 as against Rs 304.58 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales346.49304.58 14 OPM %30.7715.45 - PBDT31.1132.17 -3 PBT24.8431.79 -22 NP29.3818.30 61 Powered by Capital Market - Live News

Gensol Engineering has partnered with Matrix Gas & Renewables, a key player in natural gas aggregation and green hydrogen, to develop India`s first and largest Green Steel production facility. This facility will utilize 100% Green Hydrogen, marking a significant step forward in sustainable steel production. It is one of three pilot projects sanctioned under the National Green Hydrogen Mission by MECON, in alignment with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE), representing significant technological advancement in sustainable steel production in India. The project`s total capital expenditure (capex) is estimated at Rs 321 crore, with the Government of India providing 50% capex incentives to support this groundbreaking initiative. This investment underscores the shared commitment of both the government and the consortium to promote sustainable development and reduce carbon emissions in the steel industry.The facility will employ direct reduced iron (DRI) vertical shaft technology to convert iron ore into sponge iron. Developed for Indian-grade ore, this process will support Matrix`s broader goal of establishing similar Green Steel plants for medium- to small-scale producers in Chhattisgarh, Odisha, and other regions across India. Traditionally, sponge iron production relies on fossil fuels, emitting CO₂ in the process. By utilizing green hydrogen produced with renewable energy, this new approach will replace coal and natural gas, eliminating CO₂ emissions�a major leap forward in clean iron production. Matrix Gas & Renewables, Gensol Engineering, Indian Institute of Technology Bhubaneswar, and Metsol AB (Sweden) will collaborate on this pilot plant, which will have a capacity of 50 tons per day (TPD). Matrix will oversee the entire project lifecycle, including land acquisition, environmental assessments, and all critical phases of design, engineering, procurement, and logistics. The scope of work will cover the manufacturing, supply, erection, inspection, installation, testing, and commissioning of the facility, along with the development of supporting infrastructure. Powered by Capital Market - Live News

Gensol Engineering has been awarded a prestigious contract by UAE`s leading sustainable development and clean energy development company for the design, construction, and long-term operation and maintenance of rooftop solar photovoltaic (PV) systems for the engineering facilities of a leading aviation company in Dubai. With a total installed capacity of 23,178 kWp (23 MWp), the project underscores Gensol Engineering`s commitment to driving sustainability in the Middle East by contributing to the region`s transition to cleaner energy sources. The contract, valued at AED 81.6 Mn (Rs 186 crore) plus taxes, is set to be executed over a 20-month period.Powered by Capital Market - Live News

Gensol Engineering announced that the 12th Annual General Meeting (AGM) of the company will be held on 30 September 2024.Powered by Capital Market - Live News