Gensol Engineering touches roof on winning two turnkey international Solar EPC projects in Dubai
Gensol Engineering is currently trading at upper limit of Rs. 1747.00, up by 83.15 points or 5.00% from its previous closing of Rs. 1663.85 on the BSE.
The scrip opened at Rs. 1690.00 and has touched a high and low of Rs. 1747.00 and Rs. 1669.65 respectively. So far 8197 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1990.00 on 02-Sep-2022 and a 52 week low of Rs. 797.05 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1826.00 and Rs. 1644.30 respectively. The current market cap of the company is Rs. 2134.64 crore.
The promoters holding in the company stood at 64.67%, while Institutions and Non-Institutions held 2.60% and 32.72% respectively.
Gensol Engineering has won two turnkey international Solar Engineering, Procurement and Construction (Solar EPC) projects in Dubai with Dubai Government Workshop Warehouse and Dubai Police. Aggregating to a capacity of 14.08 MWp, these projects have a cumulative order value of Rs 101.6 crore, without taking taxes into account. With these order wins, Gensol will gain access to a large market that is full of dynamism, vibrancy and an untapped potential for renewable energy solutions that deliver positive impacts on both Indian and UAE markets.
The two turnkey contracts with Dubai Government Workshop Warehouse and Dubai Police entail design, engineering, supply, construction, erection, testing and commissioning along with an operation & maintenance of these projects. The Dubai Government Workshop Warehouse project is slated for commissioning in November 2023, while the Dubai Police project is scheduled to go online in June 2024. Both projects are poised to contribute to the UAE's Clean Energy Strategy 2050 and affirm Gensol's position as a trusted partner for delivering sustainable solutions.
Gensol Engineering is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
