Gensol Engineering has signed a non-binding Term Sheet for an 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. The deal includes the transfer of exclusive and global Intellectual Property (IP) rights (except India) for Scorpius Trackers' advanced solar tracking technology.
This transaction underscores the company’s strategy to monetize high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company’s financial position. The deal will be completed in two tranches, with full closure expected by March 2026, subject to due diligence, customary/statutory approvals, and closing conditions.
The proceeds from this transaction will be strategically redeployed to expand Scorpius Trackers’ operations in India, fuel solar EPC business growth, and support the company’s broader clean energy initiatives.
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.
