Gensol Commissions Solar Plant, Approves Rs 6B Fundraising Plan
POWER & RENEWABLE ENERGY

Gensol Commissions Solar Plant, Approves Rs 6B Fundraising Plan

Gensol Engineering Ltd has successfully commissioned a ground-mounted solar power plant in Panchet town, located in the Dhanbad district of Jharkhand. The project, developed under an EPC contract worth Rs 400 million, highlights the company’s technical proficiency in executing large-scale renewable energy installations in challenging environments.

Spanning 40 acres, the facility is expected to generate over 15 million units of clean energy annually, supporting commercial energy demands in the region. Gensol stated that the project also includes full operations and maintenance (O&M) services for a period of five years. In terms of environmental impact, the plant is projected to offset approximately 21000 metric tonnes of CO? emissions each year, contributing to Jharkhand’s broader renewable energy goals and efforts to reduce fossil fuel dependency.

In a separate development, the company’s Board of Directors has approved a fundraising plan totalling Rs 6 billion. According to a recent exchange filing, the capital will be raised through a combination of foreign currency convertible bonds (FCCBs) and promoter-issued warrants — Rs 4 billion through FCCBs and Rs 2 billion through warrants.

Gensol stated that the initiative is aimed at supporting sustainable growth, reducing debt, and enhancing shareholder value. As of now, the company has a reported debt of Rs 11.46 billion against reserves of Rs 5.89 billion, placing its debt-equity ratio at 1.95. Post-fundraising, reserves are expected to rise to around Rs 12 billion, significantly strengthening the firm’s financial position.

Gensol Engineering Ltd has successfully commissioned a ground-mounted solar power plant in Panchet town, located in the Dhanbad district of Jharkhand. The project, developed under an EPC contract worth Rs 400 million, highlights the company’s technical proficiency in executing large-scale renewable energy installations in challenging environments. Spanning 40 acres, the facility is expected to generate over 15 million units of clean energy annually, supporting commercial energy demands in the region. Gensol stated that the project also includes full operations and maintenance (O&M) services for a period of five years. In terms of environmental impact, the plant is projected to offset approximately 21000 metric tonnes of CO? emissions each year, contributing to Jharkhand’s broader renewable energy goals and efforts to reduce fossil fuel dependency. In a separate development, the company’s Board of Directors has approved a fundraising plan totalling Rs 6 billion. According to a recent exchange filing, the capital will be raised through a combination of foreign currency convertible bonds (FCCBs) and promoter-issued warrants — Rs 4 billion through FCCBs and Rs 2 billion through warrants. Gensol stated that the initiative is aimed at supporting sustainable growth, reducing debt, and enhancing shareholder value. As of now, the company has a reported debt of Rs 11.46 billion against reserves of Rs 5.89 billion, placing its debt-equity ratio at 1.95. Post-fundraising, reserves are expected to rise to around Rs 12 billion, significantly strengthening the firm’s financial position.

Next Story
Infrastructure Urban

DDA Approves Rs 87.2 Billion Budget for 2025-26

The Delhi Development Authority (DDA) has approved a budget of Rs 87.2 billion for the financial year 2025-26, with a strong emphasis on civic infrastructure development, green space rejuvenation, housing, and sports facilities, according to an official statement. Chaired by Lieutenant Governor V.K. Saxena, the budget meeting highlighted several large-scale projects, including the revitalisation of the Yamuna floodplain, creation of expansive parks, and upgraded civic amenities. Out of the total outlay, Rs 41.4 billion has been earmarked for capital expenditure, covering new roads, infrastruc..

Next Story
Infrastructure Energy

Vi Taps Cisco to Power Next-Gen Network

Telecom operator Vodafone Idea (Vi) has joined hands with US-based tech major Cisco Systems to revamp its transport network infrastructure across India. The strategic partnership aims to enhance network performance, scalability, and user experience for both retail and enterprise customers. As part of the agreement, Vi will deploy Cisco’s advanced Multiprotocol Label Switching (MPLS) technology to create a high-capacity, software-driven transport network. This will significantly improve the telecom player’s ability to manage surging data traffic and support data-heavy digital services such..

Next Story
Building Material

GPT Infra Commissions New Steel Girder Plant Near Kolkata

GPT Infraprojects announced the successful commissioning of its steel girder and components manufacturing facility in West Bengal on April 24, 2025. Located in Village Majinan, Hooghly district—about 60 km from Kolkata—the plant begins operations with an initial capacity of 10,000 metric tonnes per annum (MTPA). The company stated that the facility is in the process of securing RDSO (Research Designs and Standards Organisation) approval for manufacturing steel bridge girders. Once approved, this unit is expected to become a key asset for the company’s steel bridge segment, catering to c..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?