Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
InFocus Finance

Gensol Engineering to Sell US Subsidiary Scorpius Trackers for ₹350 cr

This transaction underscores Gensol’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.

author-image
SMEStreet Edit Desk
25 Feb 2025 13:18 IST

Follow Us

New Update
Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Ltd

Anmol Jaggi, Chairman & Managing Director, Gensol Engineering Limited

Listen to this article
0.75x 1x 1.5x
00:00 / 00:00

Gensol Engineering Limited, a leading player in India’s renewable energy sector, has signed a non-binding Term Sheet for an INR 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 Gensol’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 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 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.

Anmol Jaggi, Chairman & Managing Director, Gensol Engineering Limited. "This deal is a testament to the inherent value within Gensol’s subsidiaries and the strength of our innovation-driven approach. The monetization of Scorpius Trackers' US business enables us to reinvest in high-growth opportunities in India while strengthening our financial position. This marks a significant milestone in our journey to enhance shareholder value and accelerate our leadership in renewable energy.”

While the deal transfers global IP rights (excluding India) to the US entity, Scorpius Trackers Pvt. Ltd., India, remains a wholly owned subsidiary of Gensol Engineering, continuing to focus on the Indian market. Scorpius India will retain its IP for Indian projects, ensuring continued innovation and market leadership in one of the world's fastest-growing solar markets.

Shailesh Vaidya, CEO, Scorpius Trackers, added, “This agreement positions Scorpius Trackers for rapid growth in the US market while allowing us to retain our market focus in India. The partnership will strengthen our technology presence globally and enable us to capitalize on the immense growth potential in India's solar sector.”

Gensol Engineering’s strategic approach to subsidiary monetization reinforces its capital-efficient growth strategy, ensuring value realization from high-potential assets. With a diversified portfolio spanning solar EPC, tracker technology, electric mobility, and energy storage, Gensol remains committed to scaling operations, enhancing profitability, and driving long-term shareholder returns.

Scorpius Trackers Gensol Engineering
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!