Gensol Engineering has acquired 58,779 equity shares of Scorpius Trackers (Scorpius) constituting 54.38% of shares capital and voting rights in Scorpius. By virtue of this Scorpius is now a subsidiary company of the Company.
This acquisition strengthens Gensol Engineering's position as a leading provider of end-to-end renewable energy solutions and is a part of its strategy to expand its portfolio by spreading wings across new geographies. With the acquisition of Scorpius Trackers, Gensol, will be able to offer to its clients an end-to-end EPC solution that includes innovative solar tracking technology, thus, enabling its customer to reduce their levelized cost of energy.
Gensol Engineering is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
