Solar EPC company and Matrix Gas & Renewables Consortium Emerges as Lowest Bidder for EPC of India’s First Biomass to Green Hydrogen project, valued at Rs 164 Crore
From Rs 22.50 to Rs 972 per share, the stock gave multibagger returns of 4,220 per cent in 3 years.
Today, shares of Gensol Engineering Ltd surged 3.2 per cent to Rs 972 per share from its previous closing of Rs 941.95 per share. The stock’s 52-week high is Rs 1,377.10 per share while the stock is up by 63 per cent from its 52-week low of Rs 596 per share.
Gensol Engineering Limited (BSE: 542851) (NSE: GENSOL), a leading player in the renewable energy sector specializing in solar engineering, procurement, and construction (EPC) and electric mobility solutions, in collaboration with Matrix Gas & Renewables Ltd., a fast-growing green hydrogen infrastructure developer and natural gas aggregator, announced that it has emerged as the lowest bidder for EPC for developing India’s first Bio-Hydrogen project for India’s leading power generation company. This landmark project, to be established by the Gensol – Matrix consortium, will convert 25 tons of bio-waste into 1 ton of hydrogen per day. The project valued at INR 164 Crore, scheduled for completion within 18 months, marks a significant milestone in aligning with the National Green Hydrogen Mission for biomass to green hydrogen generation.
The company has strategically partnered with Westinghouse, USA which has patented technology and has commissioned multiple plants globally. The scope of work includes developing the establishment of a 25 Tons per day (TPD) Bio-waste processing and producing 1 TPD Green Hydrogen Infrastructure from Pre-Gasification Plasma Induced Radiant Energy-Based Gasification System (GH2-PREGS) technology. Gensol & Matrix are both companies promoted by common promoters and will continue to collaborate in the Green Hydrogen and its derivatives including Green Steel and Green Ammonia domain taking benefit of the skill sets of each entity.
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About Gensol Engineering Ltd
Established in 2012, Gensol Engineering Limited, part of the Gensol group, provides comprehensive engineering, procurement, and construction (EPC) services for solar power plants globally, with a proven track record of installing over 770 MW of solar capacity across ground-mounted and rooftop installations. Committed to sustainability, Gensol is revolutionizing the Indian EV industry by setting up a state-of-the-art manufacturing facility in Pune for electric three-wheelers and four-wheelers, capable of producing 30,000 vehicles annually. Additionally, they offer extensive EV leasing solutions for passenger, fleet, and cargo needs, having already leased over 3,000 EVs with plans to expand significantly. Headquartered in India, Gensol specializes in Solar EPC services, having built solar power plants exceeding 590 MWp globally, and is dedicated to advancing clean energy and electric mobility solutions.
The promoters of the company bought 53,945 shares and increased their stake to 62.77 per cent in June 2024 compared to 62.63 per cent in March 2024. The company has a market cap of over Rs 3,500 crore. The shares of the company ex-traded bonus shares in the ratio 2:1 on October 17, 2023. From Rs 22.50 to Rs 972 per share, the stock gave multibagger returns of 4,220 per cent in 3 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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