The deal will be completed in two tranches, with full closure expected by March 2026, subject to due diligence, customary approvals, and closing conditions.
Shares of Gensol Engineering Ltd, a leading player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services, are in focus today as the company said it has inked a pact for the sale of its US subsidiary Scorpius Trackers Inc for Rs 350 crore to a major renewable energy solutions provider in the US.
The counter opened marginally lower at Rs 572 on the BSE against the previous close of Rs 572.95 but gained to touch the high of Rs 579.80. However, it later fell to Rs 566.70.
Gensol Engineering inks pact
The deal includes the transfer of exclusive and global intellectual property (IP) rights (except India) for Scorpius Trackers’ advanced solar tracking technology, the company said in a statement.
According to the statement, Gensol Engineering — a leading player in India’s renewable energy sector — has signed a non-binding term sheet for a Rs 350 crore strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc, to a major renewable energy solutions provider in the US.
This transaction underscores Gensol’s strategy to monetise high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company’s financial position, it said.
The deal will be completed in two tranches, with full closure expected by March 2026, subject to due diligence, customary approvals, and closing conditions, it said.
Proceeds from this transaction will be strategically redeployed to expand Scorpius Trackers’ operations in the country, fuel solar EPC business growth, and support Gensol’s broader clean energy initiatives.
This reinvestment aligns with the company’s long-term vision to enhance cash flow and strengthen the balance sheet, ensuring sustained value creation for shareholders.
With PTI inputs
