Gensol Engineering Stock Jumps 6% on ₹1,061.97 Crore Solar EPC Contract

Shares of Gensol Engineering, a key player in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, rose by 6.13% in Monday’s intraday session, reaching ₹796.40 per share. This spike followed the announcement that the company had secured a major EPC contract valued at ₹1,061.97 crore.

New Solar Project in Gujarat

Gensol Engineering revealed that it had secured the contract from a prominent public sector undertaking for the development of a 275 MW solar photovoltaic (PV) project at the RE Solar Park in Khavda Rann, Kutch, Gujarat. The contract value includes approximately ₹1,061.97 crore, which covers both the development of the project and three years of operations and maintenance (O&M).

“We have started Calendar Year 2025 on a high note. We are excited to be awarded this prestigious project in partnership with a renowned public sector entity. This contract is a significant step for us in the renewable energy sector,” said Shilpa Urhekar, CEO of Solar EPC (India) at Gensol Engineering.

Recent Developments Fueling Growth

The company has been in the spotlight on Dalal Street recently, driven by a series of key contract wins. In December, Gensol secured another significant contract from NTPC Renewable Energy for the development of a 225 MW-AC solar PV project at GSECL Solar Park in Khavda, Gujarat, worth ₹897.47 crore, including three years of O&M.

In September, Gensol was also awarded the lowest bid for India’s first bio-hydrogen project, which it will execute in collaboration with Matrix Gas & Renewables. Furthermore, in August, the company and Matrix Gas won a bid under the Production Linked Incentive (PLI) scheme to set up a 237 MW electrolyzer manufacturing plant, a project awarded by the Solar Energy Corporation of India (SECI).

Outlook

Gensol Engineering’s recent achievements, particularly in the solar power and renewable energy sectors, have placed it in a strong position for continued growth in 2025. The company’s ability to secure large-scale, high-value projects underscores its expertise and reputation in the renewable energy industry.

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