Gensol Engineering Ltd Awarded ₹138.72 Crore Solar Power Project by SEML in Chhattisgarh

Gensol Engineering Limited has been awarded a contract for a 33 MW AC solar power project by Sarda Energy & Minerals Ltd. (SEML), a leader in steel production and India's top exporter of ferro alloys. The initiative will unfold for its captive use at SEML's Kharora plant in Chhattisgarh, a region burgeoning with industrial growth and opportunity, This marks a significant leap in Gensol's renewable energy portfolio in the region.

The scope of the contract covers a comprehensive set of responsibilities including design, engineering, procurement, and construction, along with the commissioning of the solar power facility. This project underscores Gensol's capability and dedication to the renewable energy sector and fortifies the trust SEML has in Gensol's commitment to delivering excellence.

The contract, valued at ₹138,72,22,000 (Indian Rupees One Hundred Thirty-Eight Crores Seventy-Two Lakhs and Twenty-Two Thousand Only), inclusive of taxes, is a milestone for Gensol and is scheduled for completion within a 6-month timeline.

Mr. Ali Imran Naqvi, CEO (Head - BD & Projects) of Gensol Engineering Limited, commented, "Securing this project is not just a milestone for us but also an entry into the vast industrial landscape of Chhattisgarh. Known for its rich mineral deposits and burgeoning industrial sector, Chhattisgarh presents a dynamic market with immense potential for renewable energy integration. This project aligns with our vision to tap into such high-growth areas and to contribute to a greener, cleaner tomorrow. We are profoundly honored by the trust SEML has placed in us and are eager to bring our best to the table."

This venture serves as a strategic foray for Gensol Engineering Limited into the Chhattisgarh market, setting the stage for future growth and opportunities in the region.

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 848.10 as compared to the previous close of Rs. 848.65. The total number of shares traded during the day was 8277 in over 314 trades.

The stock hit an intraday high of Rs. 875.40 and intraday low of 835.10. The net turnover during the day was Rs. 7092322.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 Contract OrderWin SolarPowerProject SardaEnergyandMinerals