Introduction:
Leading renewable energy firm has secured an EPC contract from NTPC Renewable Energy to develop a 225MW grid-connected solar project in Gujarat. The contract, valued at ₹897.47 crore, includes three years of operations and maintenance services.
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Share price movement of Gensol Engineering:
On December 27, 2024, Gensol Engineering Ltd opened at ₹751.05, up 5.29% from its previous close of ₹713.35. The stock reached a high of ₹780.00 (9.32%) and a low of ₹749.85. By 11:41 AM, it traded at ₹760.50, a 6.61% increase, with a market cap of ₹2,880.23 crore.
Gensol wins ₹897.47 crore solar contract:
Gensol Engineering Ltd. has won a significant EPC contract from NTPC Renewable Energy Limited for the development of a 225MW grid-connected solar PV project at GSECL Solar Park, Gujarat. The total bid value is ₹897.47 crore.
This project, located in the Rann of Kutch, will have a capacity of 225MW-AC (276MWDC) and includes 3years of operations and maintenance services. The contract strengthens Gensol’s position in the renewable energy sector, underscoring its expertise in solar power infrastructure.
NTPC Renewable Energy and Gensol Engineering signed the contract last week, marking a major step in advancing India’s renewable energy goals. This collaboration further accelerates the nation’s transition to clean energy.
Recent news on Gensol Engineering:
As of December 18, 2024, Gensol Engineering secured its first large turnkey solar project, a 22 MW ground-mounted plant valued at ₹88 crore. The project, using high-efficiency bi-facial solar modules, will contribute to India’s renewable energy goals.
Stock performance of Gensol Engineering for Period of 1 week, 6 months and 1 year:
Gensol Engineering Ltd has faced a decline in recent performance, with a 1-week return of -5.44%, a 6-month return of -29.5%, and a 1-year return of -11.6%. Despite these setbacks, the company continues its focus on renewable energy growth.
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Shareholding pattern of Gensol Engineering:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 62.60% | 62.80% | 62.60% |
| FII | 2.30% | 2.00% | 2.40% |
| DII | 0% | 0% | 0.10% |
| Public | 35.10% | 35.30% | 34.90% |
About Gensol Engineering:
Gensol Engineering Limited (NSE: GENSOL) is a leader in renewable energy, specializing in solar EPC services, electric mobility, and energy storage solutions. With over 500 professionals, the company is expanding into electric vehicle manufacturing and green hydrogen production.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
