Gensol Engineering Enters US Market with New Subsidiary

29 Aug 2024 CW Team

Gensol Engineering, a leading player in the renewable energy sector based in Gujarat, announced the establishment of a new subsidiary in the United States. The new arm, named Scorpius Trackers Inc, is set up with the goal of supplying over 2,000 MW of solar trackers annually by 2028 to major renewable energy markets.

The first office of Scorpius Trackers Inc. will be located in California, placing the company in one of the most dynamic renewable energy markets in the world. "Gensol Engineering announces entry into the US market with Scorpius Trackers Inc. With a goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc aims to capitalize on its decade-long experience," the company said in a statement.

Gensol Engineering has more than 1,000 MW of contracted orders across key markets, including India, Africa, Japan, and the Middle East. The US solar tracker market, which is the largest in the world, deploys trackers aggregating over 25,000 MW annually and is growing at a robust compound annual growth rate (CAGR) of more than 20%, according to the company.

Known for its expertise in solar power EPC (Engineering, Procurement, and Construction) services and electric mobility solutions, Gensol Engineering continues to expand its presence in the global renewable energy landscape.

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