Gensol Engineering share hit upper circuit after getting solar projects worth Rs 600 crore

Gensol Engineering hit a 5% upper circuit at Rs 983.90 after announcing that it has won the contract for 116 MW (150 MWp) of solar projects in Gujarat, with an estimated EPC revenue of Rs 600 crore.

These projects would be spread over 27 different areas, all under the authority of Paschim Gujarat Vij Co. Ltd. (PGVCL), the state electricity distribution company.

These projects aim for feeder-level solarisation and are expected to be operational within 12 months of receiving the Letter of Award (LoA).

Solarization of agricultural feeders that are already segregated or mainly serve agricultural loads by installing grid-connected solar projects to provide their r annual power requirements.

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