Gensol Engineering Limited has signed a non-binding term sheet for a Rs 3.5 billion strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc., to a major renewable energy solutions provider in the US. The deal includes the transfer of exclusive and global intellectual property rights, except those for India, related to Scorpius Trackers’ solar tracking technology.
Structured in two tranches, the transaction is expected to be finalised by March 2026, subject to due diligence, customary approvals, and closing conditions. The proceeds from this transaction will be utilised to expand Scorpius Trackers’ operations in India, accelerate growth in the solar engineering, procurement, and construction segment, and support broader clean energy initiatives.
Furthermore, this reinvestment also aligns with the company’s long-term vision to enhance cash flow and strengthen the balance sheet, ensuring sustained value creation. While the deal transfers global intellectual property rights, Scorpius Trackers, India, will remain a wholly owned subsidiary of Gensol Engineering, retaining its intellectual property for Indian projects and continuing to focus on the domestic market.
