Gensol Engineering share: Small-cap solar, EV stock jumps 6% after receipt of ₹1,061 crore project

Stock market today: Shares of Gensol Engineering, a leading player in the renewable energy sector, specialising in solar power engineering, procurement, and construction (EPC) services, rose 6.13% in the intraday session on Monday, January 6 to ₹796.40 apiece after the company secured a significant order.

The company informed investors through an exchange filing today that it had secured an EPC contract from a renowned public sector undertaking for the development of a 275 MW solar PV project at RE Solar Park, Khavda Rann of Kutch, Gujarat. The order value of this project is ₹1,061.97 crore.

"Gensol Engineering has secured a significant EPC contract from a renowned public sector undertaking for the development of a 275 MW solar PV project at RE Solar Park, Khavda Rann of Kutch, Gujarat, with a total bid value of approximately ₹1,061.97 crore (including GST), which includes three years of O&M," the company said in today's filing.

Commenting on the development, Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) at Gensol Engineering, stated, “We have started Calendar Year 2025 on a high note. We have been awarded a prestigious solar PV project contract from a renowned public sector undertaking at RE Solar Park, Khavda Rann of Kutch, Gujarat. This partnership holds immense value for us, and we are grateful for the continued trust and confidence placed in us by such a large renewable energy corporation.”

Recent developments

The company has been buzzing on Dalal Street in recent months on the back of steady order wins. In late December, it secured a significant EPC contract from NTPC Renewable Energy (NTPC REL). This contract entails the development of a 225 MW-AC (equivalent to 276 MW-DC) grid-connected solar PV project at GSECL Solar Park (Stage-III), Khavda, located in the Rann of Kutch, Gujarat.

The total bid value for this project, including operations and maintenance (O&M) for a duration of three years, amounts to approximately ₹897.47 crore, inclusive of taxes and duties.

Meanwhile, in September, the company emerged as the lowest bidder for developing India's first bio-hydrogen project for a leading power generation company. It will undertake the project in collaboration with Matrix Gas & Renewables.

In August, the consortium of Gensol Engineering and Matrix Gas was awarded a 237 MW annual capacity under the Production Linked Incentive (PLI) scheme for establishing an electrolyzer manufacturing plant. They won the bid through a competitive tender conducted by the Solar Energy Corporation of India (SECI).

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.