Gensol Engineering acquires Pune based solar tracker company Scorpius

Gensol Engineering Limited has acquired Pune-based solar tracker specialist Scorpius Trackers for Rs 1.35 billion. Scorpius has developed its own patented tracker controller, software, and innovative structure designs which claims to deliver faster payback periods and result in higher overall returns on investment. Scorpius has 600 MW capacity in operation across India, Japan, Africa, and the Middle East. It also has letters of intent for 800 MW in hand.

Gensol will be able to offer its clients an end-to-end engineering, procurement and construction (EPC) solution that includes innovative solar tracking technology. Scorpius Trackers will operate as a wholly-owned subsidiary of Gensol Engineering Limited.

In February 2023, Gensol Engineering Limited received purchase orders for over 247 MWp of solar power capacity across eleven states. These projects will be developed in Andhra Pradesh, Haryana, Gujarat, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Uttarakhand, and West Bengal by the company.

Also, in December 2022, Gensol Engineering was declared as winner in the auction to develop 30 MW floating solar projects with a bid of Rs 2.32 billion. The projects will be developed at three thermal power plants spanned across Jharkhand and West Bengal. The tender was issued by the Solar Energy Corporation of India in June 2022 for developing projects at Damodar Valley Corporation’s thermal power stations in Koderma with a capacity of 6 MW, Mejia with a capacity of 14 MW, and Raghunathpur with a capacity of 10 MW.