Gensol Engineering bags order worth Rs37.5 crore for building solar power projects; Stock plunges 4%

Gensol Engineering Limited has secured buy orders to develop Grid-Linked Floor-mount and Rooftop Photo voltaic Energy Era Techniques cumulating to fifteen MWp.

The Firm has within the months of April and Could, 2022 in regular course of enterprise, acquired buy orders from its reputed purchasers for the event of solar energy initiatives aggregating to a capability of round 15 MWp within the states of Goa, Gujarat and Punjab.

The cumulative order worth of those initiatives is pegged at over Rs37.5 crore unique of taxes.

All these initiatives are for captive use of the purchasers and, thus, will reduce down their dependence upon grid and are anticipated to cut back emissions roughly to the tune of 21903 Mt CO2 yearly. All these initiatives are slated for commissioning throughout the subsequent six months, mentioned firm in a regulatory submitting.

At round 1:52 PM, Gensol Engineering was buying and selling at Rs302 per piece decrease by 4.20% on the BSE.