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Gensol Engineering wins ₹600 crore bid for 116 MW solar projects in Gujarat, covering 27 locations under Paschim Gujarat Vij Co. Ltd (PGVCL). Projects aim for feeder-level solarisation and will be operational within 12 months.
Gensol Engineering Ltd has emerged as the winning bidder for 116 megawatts (MW) of solar projects in Gujarat, marking a substantial step forward in the renewable energy sector. The company announced on Monday that the projects will be distributed across 27 locations in the state. Investors can keep an eye on Gensol Engineering share price today.
The projects fall under the purview of Paschim Gujarat Vij Co. Ltd. (PGVCL), the state electricity distribution company. They are expected to generate approximately ₹600 crore in engineering, procurement, and construction (EPC) revenue. This major win highlights Gensol Engineering's expertise and growing influence in the renewable energy market.
According to the statement, these solar projects are expected to be operational within 12 months following the issuance of the Letter of Award (LoA). The rapid implementation timeline underscores Gensol Engineering’s commitment to efficient project execution and its capability to meet stringent deadlines.
The primary aim of these projects is feeder-level solarisation. Feeder-level solar projects are designed to meet the power needs of single or multiple agricultural feeders from a distribution substation. This approach not only ensures a stable power supply for agricultural activities but also promotes sustainable energy practices.
Gensol Engineering Ltd is a leading player in the renewable energy sector, specialising in solar power engineering, procurement, and construction (EPC) services, as well as electric mobility solutions. The company's strategic focus on sustainable energy solutions has positioned it as a key contributor to India's renewable energy landscape. On Monday, Gensol Engineering Ltd share price ended at ₹939.60, reflecting a slight increase of ₹1.15 or 0.12% on BSE.
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