Solar stock Gensol Engineering jumps over 5% on receipt of ₹968 crore order

Stock Market Today: Solar stock Gensol Engineering Ltd gained more than 5% during intraday trades on Friday after it announced receipt of ₹968 crore order

The Gensol Engineering share price opened at ₹735 on the BSE on Friday, 3% higher than the previous days closing price of ₹713.50. The Gensol Engineering share price thereafter rose to intraday highs of ₹751.45 , which translated into gains of more than 5%

Gensol Engineering announced on the exchanges on Friday 7 February 2025 that it has secured order worth approximately ₹967.98 crores (including GST) for 245 MW Solar PV Project at Khavda RE Power Park, Rann of Kutch in Gujarat, including three years of O&M (operation and maintenance)

Gensol Engineering order details

A key player in the renewable energy space and Solar power, Gensol Engineering in its release said that the company has been awarded a contract by a renowned public sector undertaking for the development of a 245 MW Solar PV Project at the prestigious Khavda RE Power Park in Gujarat. This contract, valued at approximately ₹967.98 Crores (inclusive of GST), includes three years of comprehensive O&M services.

This order marks Gensol's second major project win at the Khavda Solar Park within a short span, which as per the company underscores its strong market presence and execution capabilities.

Earlier in the month, the company had announced securing an EPC contract worth ₹1062.97 Crores for a 275 MW Solar PV Project – part of the larger 795 MW Solar PV Development Package – at the same location.

With these two significant projects, Gensol Engineering said that it will now be responsible for the cumulative development of 520 MW of Solar PV capacity at the Khavda Solar Park, a site poised to become the world's largest hybrid renewable energy park.

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