Gensol Engineering announced the sale of its US subsidiary, Scorpius Trackers Inc., to a prominent renewable energy provider in the United States for ₹350 crore. The agreement includes the transfer of exclusive global intellectual property (IP) rights for Scorpius Trackers’ advanced solar tracking technology, excluding India.
The sale is part of Gensol’s broader strategy to unlock capital from non-core assets, allowing the company to reinvest in its primary growth areas within India’s renewable energy sector. The deal is set to be completed in two stages, with the final closure anticipated by March 2026, pending due diligence and necessary approvals.
The funds raised from the sale will be reinvested to bolster Scorpius Trackers’ operations in the US, support Gensol’s solar EPC business, and further the company’s overall clean energy goals. This move is expected to enhance Gensol’s financial position, foster sustainable growth, and drive long-term shareholder value.
Gensol’s Chairman and Managing Director, Anmol Jaggi, commented, “This strategic sale allows us to reinvest in high-potential opportunities in India while strengthening our financial standing.” Though the global IP rights, excluding India, are transferred, Scorpius Trackers Pvt Ltd in India will continue to operate under Gensol’s ownership, maintaining its focus on the Indian market and ensuring ongoing innovation within one of the world’s fastest-growing solar industries.
CEO of Scorpius Trackers, Shailesh Vaidya, emphasized that the partnership will expand their global technology presence and help leverage growth opportunities in India’s rapidly expanding solar market. Gensol’s strategic asset monetisation approach aims to enhance capital efficiency and unlock value from key subsidiaries.
Gensol Engineering Ltd. is a leading provider of renewable energy solutions, specializing in solar energy consulting, project management, and execution services. With a focus on innovation and sustainability, Gensol offers end-to-end solutions for solar power projects, including feasibility studies, design, engineering, procurement, and construction.
The company also provides advanced asset management and O&M (Operations and Maintenance) services, ensuring the optimal performance of solar installations. Leveraging its expertise, Gensol has played a pivotal role in advancing clean energy adoption across diverse sectors, contributing to India’s renewable energy targets and supporting the global transition to sustainable energy.
