Gensol Engineering Limited announces its first international Solar EPC project in Dubai

Gensol Engineering Limited (BSE Code: 542851 and NSE Symbol: GENSOL) a leading player in the renewable energy & electric mobility domain, today announced its maiden two turnkey international Solar Engineering, Procurement, and Construction (Solar EPC) projects in Dubai with Dubai Government Workshop Warehouse and Dubai Police. Aggregating to a capacity of 14.08 MWp, these projects have a cumulative order value of INR 101.6 Crores, without taking taxes into account. With these order wins, Gensol will gain access to a large market that is full of dynamism, vibrancy and an untapped potential for renewable energy solutions that deliver positive impacts on both Indian and UAE markets.

The two turnkey contracts with Dubai Government Workshop Warehouse and Dubai Police entail design, engineering, supply, construction, erection, testing, and commissioning along with an operation & maintenance of these projects. The Dubai Government Workshop Warehouse project is slated for commissioning in November 2023, while the Dubai Police project is scheduled to go online in June 2024. Both projects are poised to contribute to the UAE's Clean Energy Strategy 2050 and affirm Gensol's position as a trusted partner for delivering sustainable solutions.

Commenting on winning international orders, Mr. Anmol Singh Jaggi, Managing Director, Gensol Engineering Limited said, "We are delighted with the new prestigious order wins in Dubai. With this, we also venture into international markets and mark a significant step towards fulfilling our vision of driving sustainable energy transitions globally. In addition, there are multiple orders to be announced in the coming months."

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 1747.00 as compared to the previous close of Rs. 1663.85. The total number of shares traded during the day was 8790 in over 724 trades.

The stock hit an intraday high of Rs. 1747.00 and intraday low of 1669.65. The net turnover during the day was Rs. 15257564.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 SolarEPCProjects Dubai