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Gensol Engineering Secures ₹897-Crore Contract for NTPC REL Solar Projects

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Synopsis:

Gensol Engineering bagged a ₹897-crore contract from NTPC REL to develop a 225 MW solar project in Gujarat. Despite this achievement, Gensol Engineering share price dropped 4.3%, closing at ₹715.

Gensol Engineering news today

Gensol Engineering has announced a major milestone with its ₹897-crore contract win from NTPC Renewable Energy Limited (NTPC REL) for developing 225 MW grid-connected solar projects. The project, set to be executed on an EPC basis, will be located at the GSECL Solar Park (Stage-III) in Khavda, Rann of Kutch, Gujarat.

Also read: IndusInd Bank to Sell ₹1,573-Crore MFI Retail Loan Pool in Auction

GENSOL ENGINEERING LTD

Trade

757.9544.50 (6.23 %)

Updated - 27 December 2024
779.95day high
DAY HIGH
750.00day low
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1314312
VOLUME (BSE)

Key Takeaways

  • Project Size: 225 MW (AC), equivalent to 276 MW (DC).

  • Project Value: ₹897.47 crore, inclusive of taxes and three-year O&M.

  • Location: GSECL Solar Park, Khavda, Gujarat.

  • Contractor: Gensol Engineering, commissioned by NTPC REL.

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Project Overview

The contract includes the engineering, procurement, and construction of 225 MW alternating current (AC) capacity, equivalent to 276 MW direct current (DC). The ₹897-crore bid also covers operations and maintenance (O&M) for three years, ensuring optimal functionality post-installation.

Financial Snapshot of the Deal

Aspect

Details

Total Project Value

₹897.47 crore (including taxes)

Solar Capacity (AC/DC)

225 MW / 276 MW

Project Location

GSECL Solar Park, Gujarat

O&M Duration

3 Years

Impact on Gensol Engineering Share Price

Despite the announcement, Gensol Engineering share price declined by 4.3%, closing at ₹715 on Thursday. Over the past month, the stock has fallen by 11.4%, reflecting market volatility.

Solar Energy and Market Dynamics

This project represents a significant addition to India’s renewable energy capacity, aligning with the nation’s push towards sustainable development. The involvement of NTPC REL underlines the strategic importance of the Khavda solar hub. However, the drop in Gensol Engineering share price highlights potential investor concerns regarding the company’s short-term financial outlook or market sentiment.

Gensol Engineering’s ₹897-crore project is a testament to its capability in handling large-scale renewable energy ventures. While the company’s share price reflects temporary volatility, its role in driving solar energy adoption in India remains pivotal.

Also read: Jubilant FoodWorks Partners with Coca-Cola for Beverage Supplya

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Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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