Gensol Engineering Limited — Updates, 25-02-2025: Press Release

Gensol Engineering has executed a strategic deal valued at INR 350 crore involving the sale of its US subsidiary, Scorpius Trackers Inc., to a major Renewable Energy Solutions provider. This transaction includes the transfer of global intellectual property rights for advanced solar tracking technology. The deal is structured in two tranches, with full closure expected by March 2026, after due diligence and required approvals.

The proceeds will be used to strengthen Gensol's balance sheet and fund expansion in India's renewable energy market, reinforcing the company's commitment to capital-efficient growth through monetization of high-value assets. While Scorpius Trackers Inc. will grow in the US, its Indian subsidiary will retain its IP for local projects, ensuring ongoing innovation in one of the fastest-growing solar markets globally. Gensol's diversified portfolio positions it well for future opportunities in solar EPC, electric mobility, and energy storage, enhancing prospects for shareholder value creation.