Gensol Engineering Ltd. has secured an EPC contract from NTPC Renewable Energy Limited for Development of 225 MW Grid Connected Solar PV Projects at GSECL Solar Park (Stage-III), Khavda Gujarat, with a total bid value of approximately INR 897.47 crores(Including GST),including three years of O&M – EQ
Ahmedabad – Gensol Engineering Limited (BSE: 542851, NSE: GENSOL), a prominent leader in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, has secured a significant EPC contract from NTPC Renewable Energy Limited (NTPC REL). This contract entails the Development of 225 MW-AC (Equivalent To 276 MW DC) 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 INR 897.47 crores, inclusive of taxes and duties. The contract between NTPC REL and Gensol Engineering Limited was formally executed last week, marking a substantial milestone for both entities in their pursuit of advancing renewable energy infrastructure in India.
Commenting on the development, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) at Gensol Engineering Ltd., stated, “We are thrilled to announce that we have been awarded the prestigious PV project contract by NTPC Renewable Energy Limited (NTPC REL) at GSECL SOLAR PARK(STAGE-III), located in the Rann of Kutch, Gujarat. This collaboration demonstrates the belief in Gensol’s 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 India’s escalating need for clean and sustainable energy, in line with the government’s vision to fulfill this need. We remain pledged to make our utmost contributions in all respects.”
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About Gensol Engineering Limited:
Established in 2012, Gensol Engineering Limited, is a leading player in there new able energy sector specialising in solar power engineering, procurement, and construction (EPC) services, along with electric mobility solutions. Gensol boasts an experienced and diverse team ofover500professionalsacrossSolar (Gensol Solar EPC (India & Middle East) and Scorpius Trackers), EV leasing (Let’sEV) and EV Manufacturing (Gensol EV).Gensol Solar EPC, amongst the top 10 EPC players in India, and top 5 in terms of independent EPC players, have successfully executed over 770 MW of diverse solar projects, encompassing rooftop, ground mount, and floating solar installations across almost all states of India. In Sep 2023, Gensol acquired Scorpius Trackers, an innovative and world-class bankable single-axis solar tracking solution provider, to enhance its offerings in the renewable energy sector. Venturing beyond solar, Gensol has established a state-of-the-art electric vehicle (EV) manufacturing facility in Chakan, Pune (India), with a production capacity of 30,000 vehicles per annum. Meticulously designed and engineered to seamlessly integrate into urban fleet and cargo segments, with future plans for urban passenger usage, Gensol EV has received the Automotive Research Association of India (ARAI) certification for the vehicle. In pursuit of revolutionizing India’s EV landscape, Gensol not only manufactures but also provides comprehensive EV leasing solutions, catering to a diverse clientele that includes PSUs, educational institutions, government entities, multinational corporations, ride-hailing services, employee transport companies, rental services, logistics, and last-mile delivery enterprises. Making a significant impact on the Indian energy market by providing innovative and sustainable solutions, Gensol is also contributing to the future of Battery Energy Storage Systems (BESS) in India by offering state-of-the-art energy storage solutions combined with advanced energy management systems, ensuring compliance with rigorous availability and efficiency standards. Gensol is involved in developing Green Hydrogen Production infrastructure on Turnkey basis through EPC.
