Gensol Engineering Ltd has been awarded a Rs 186 crore contract for the design, construction, and maintenance of a 23 MWp rooftop solar photovoltaic (PV) project in Dubai. The contract, valued at AED 81.6 million, was secured from a UAE-based clean energy development firm. The project will provide solar power for an aviation company’s engineering facilities and is set to be completed within 20 months.
The rooftop solar project, with an installed capacity of 23,178 kWp, aims to contribute to reducing the carbon footprint of one of Dubai’s major industrial sites. Gensol will manage the full scope of the project, including material procurement, construction, testing, and long-term operation and maintenance of the systems.
This contract forms part of Gensol Engineering’s broader portfolio of solar engineering, procurement, and construction (EPC) projects, which currently stand at Rs 4,097 crore as of September 2024. These projects represent a total output of 1.5 GW and are scheduled to be completed within 12 to 18 months.
Following the announcement of the Dubai project, Gensol Engineering’s stock saw an intraday rise of 3.2%, reaching a high of ₹853.20 per share on the BSE, before trading at ₹848.70, 2.67% higher on Thursday morning. However, the stock has shown a year-to-date decline of 5% and a 17% fall over the past six months.