Gujarat, India - December 27, 2024: Gensol Engineering's stock surged 6% after the company secured a major contract from NTPC Renewable Energy Limited (NTPC REL) to develop a 225 MW-AC (276 MWDC) grid-connected solar PV project at GSECL Solar Park, Rann of Kutch. The project, valued at ₹897.47 crore, includes a three-year operations and maintenance (O&M) agreement, underscoring Gensol's leadership in renewable energy infrastructure.
Shares opened at ₹763.75 and were trading at ₹757.80, reflecting a 6.22% increase as of 9:17 a.m. on the NSE. This contract not only boosts Gensol's portfolio but also signifies a growing trend towards renewable energy investments in India.
The global implications of this project may signal increased interest in sustainable energy solutions, potentially influencing market dynamics and investment strategies worldwide.