Gensol Engineering Ltd, a key player in India’s renewable energy sector, on Tuesday, February 25, announced a ₹350 crore transaction involving the sale of its US subsidiary, Scorpius Trackers Inc., to a major American renewable energy solutions provider.CompanyValueChange%ChangeThe deal, structured in two tranches, includes the transfer of exclusive global Intellectual Property (IP) rights (excluding India) related to Scorpius Trackers’ advanced solar tracking technology.The full closure of the transaction is expected by March 2026, subject to regulatory approvals, and customary closing conditions, Gensol Engineering said in a stock exchange filing.
Shares of Gensol Engineering Ltd. jumped over a per cent higher in the morning session on Tuesday to touch an intraday high of ₹579.8 apiece on the BSE
This move aligns with Gensol’s strategy to monetise high-value assets, unlock capital from subsidiaries and reinvest in its core business areas, the filing added.The proceeds from this sale will be strategically redeployed to expand Scorpius Trackers’ operations in India, boost Gensol’s solar EPC (Engineering, Procurement, and Construction) business, and support broader clean energy initiatives.”This transaction highlights the inherent value of our subsidiaries and our innovation-driven approach. The monetisation of Scorpius Trackers’ US business allows us to reinvest in high-growth opportunities in India while strengthening our financial position. This is a crucial milestone in our journey to enhance shareholder value and accelerate our leadership in renewable energy,” Anmol Jaggi, Chairman & Managing Director of Gensol Engineering, said.Despite the sale of its US subsidiary, Scorpius Trackers Pvt. Ltd. in India remains a wholly owned subsidiary of Gensol Engineering. It will continue to focus on the Indian market, retaining its IP for domestic projects to ensure continued innovation and leadership in one of the world’s fastest-growing solar energy markets, Gensol said.Shares of Gensol Engineering were trading 0.38% higher at ₹575.15 on the BSE around 10:20 am.Catch live market updates with CNBC-TV18.com’s blog
