Gensol Commissions Solar Plant, Approves Rs 6B Fundraising Plan

11 Apr 2025 CW Team

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.

Infrastructure Urban

16 Sep 2025

Credai Calls for Land Reforms to Drive Real Estate Growth by 2047

The Confederation of Real Estate Developers’ Associations of India (Credai) has called for comprehensive land reforms, including conclusive land titling through a Land Titling Act and the creation of a unified national digital land register to enhance transparency and accessibility.It also urged the development of land banks to promote affordable housing and emphasised the planned creation of 100 ‘cities of tomorrow.’Unveiling its report, The National Real Estate Development Framework – Vision 2047, at its annual conference in Singapore, Credai highlighted the need for land reforms, di..

MSRTC to Open 75 Free Libraries for PM Modi’s 75th Birthday

In a unique initiative to celebrate Prime Minister Narendra Modi’s 75th birthday, the Maharashtra State Road Transport Corporation (MSRTC) will set up free public libraries at 75 major bus stations across the state.The move, announced by Maharashtra Transport Minister and MSRTC Chairman Pratap Sarnaik, aims to foster a reading culture and promote Marathi literature among the masses. Speaking to the media, Sarnaik said the initiative is being implemented under the guidance of MP Dr. Shrikant Shinde and senior BJP leader Vinay Sahasrabuddhe, as part of a broader push to make literature and kno..

PM Modi to Launch Rs 3.6 Billion Projects in Purnea on Monday

Months ahead of assembly elections in Bihar, Prime Minister Narendra Modi will be in Purnea district on Monday to address a rally and launch development projects worth Rs 3.6 billion.The PM will also inaugurate a newly developed airport terminal at the north Bihar town, which would fulfil the region’s long-standing demand for air connectivity.Another key highlight is the scheduled inauguration of the National Makhana Board, the setting up of which was announced in the Union budget earlier this year.Hailed as a “super food” by the PM in many of his speeches, makhana, or Indian foxnuts, ar..