Gensol Engineering wins Rs 780Cr contract for 150 MW solar plant in Maharashtra

Gensol Engineering Limited has secured a Rs 780 crore EPC contract for a 150 MW ground-mounted solar photovoltaic (PV) power plant in Maharashtra. A significant public sector utility awarded the contract, which will take 15 months to complete and covers every stage of the project's lifecycle, from land acquisition to commissioning.

As part of the contract, Gensol will undertake comprehensive project management duties, including design, engineering, procurement, logistics, manufacturing, and supply. The company will also handle the plant’s erection, installation, testing, and commissioning, and develop power evacuation infrastructure to connect the plant to the State Transmission Utility (STU) substation. The agreement includes three years of operations and maintenance (O&M) services for the solar plant’s switchyard and transmission facilities.

“This project showcases Gensol’s growing expertise as a provider of end-to-end solar solutions,” said Shilpa Urhekar, Chief Executive Officer, Solar EPC (India), Gensol Engineering. “It will advance India’s clean energy transition and aligns with our commitment to the right energy mix. We appreciate the confidence one of India's top public sector utilities has placed in us and look forward to working with Maharashtra to support India's aspirations for renewable energy.

This development aligns with the Ministry of New and Renewable Energy’s (MNRE) April 2022 policies to bolster energy infrastructure in Maharashtra.

In addition to this milestone project, Gensol Engineering has marked international success. In October 2024, the company secured a contract to design, construct, and provide long-term O&M for rooftop solar PV systems totaling 23.178 MW for a major aviation company in Dubai.

Gensol Engineering has demonstrated robust growth. The company’s consolidated net profit doubled to Rs 20.48 crore in Q1 FY25, compared to Rs 10.24 crore last year, with sales surging 104.11% to Rs 295.15 crore over Q1 FY24.

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