Gensol Engineering Share Price Surges by 5% on Maharashtra Solar Project Order
Yesterday (22 March), Gensol Engineering’s share price saw a 5% increase, hitting a circuit high. The company experienced a rapid growth in shares following news of an order being secured. Gensol Engineering has been awarded a ₹520 crore order to set up a solar power plant in Maharashtra.
In a regulatory filing, Gensol Engineering stated that the order was received from one of the leading electricity production units in the state. The project includes a 100 MW AC/135 MW ground-mounted solar PV power project spread across 500 acres in Maharashtra, with a total order value of ₹520 crore.
The project involves three years of operational management, necessary approvals, plant installation and operation, switchyard and transmission infrastructure maintenance, as well as civil and electrical engineering works. The company aims to complete the order within 450 days.
Gensol Engineering is a part of the Gensol Group of Companies, which provides EPC services for the development of solar power plants. The group has also established an electric vehicle manufacturing plant in Pune.
Stay tuned for more updates on Gensol Engineering’s exciting ventures!
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