Gensol Engineering Sells US Unit Scorpius Trackers for Rs 350 Crore

Gensol Engineering announced the sale of its US subsidiary, Scorpius Trackers Inc, for Rs 350 crore to a major US renewable energy provider. This deal, focusing on monetizing high-value assets, will reinvest in India's solar sector and strengthen Gensol's financials to align with its long-term strategy.

Gensol Engineering revealed on Tuesday its agreement to sell Scorpius Trackers Inc, a US subsidiary, to a leading renewable energy solutions provider for Rs 350 crore.

The transaction involves the transfer of global intellectual property rights, excluding India, reinforcing Gensol's strategy of asset monetization and reinvestment in high-growth areas.

This lucrative sale will further enhance Gensol's financial stability and expand operations in India's solar sector, maintaining a strong position in the renewable energy market.