Gensol Commissions 10.6 MW Rooftop Solar Project for Trident Group

The project is expected to produce approximately 15,000 MWh annually

March 21, 2024


Solar engineering, procurement, and construction (EPC) service provider Gensol Engineering has commissioned a 10.6 MW rooftop solar project for Trident’s Budhni Textile Unit in Madhya Pradesh.

The project utilizes nearly 20,000 545Wp Longi Hi-MO 5 Bifacial Dual Glass LR5-72HBD modules and is expected to produce approximately 15,000 MWh annually. This is enough clean energy to offset nearly 11,000 tons of carbon dioxide emissions annually.

“This project ranks among the top five biggest rooftop solar ventures globally, utilizing a rooftop area exceeding 70,000 square meters. This massive project is a testament to Gensol’s commitment to cutting-edge solutions and our ability to execute complex projects at scale. We are proud to collaborate with Trident Limited on this achievement, which not only positions them as a leader in sustainable manufacturing but also sets a powerful example for other industries worldwide,” said Ali Imran Naqvi, CEO of Gensol EPC Business.

Recently, Gensol Engineering won Gujarat Urja Vikas Nigam’s auction to set up pilot projects of 250 MW/500 MWh standalone battery energy storage systems in Gujarat under tariff-based global competitive bidding (Phase-II). Gensol won 70 MW/140 MWh, quoting ₹448,996 (~$5,424)/MW/month, and IndiGrid won the remaining 180 MW/360 MWh, quoting ₹449,996 (~$5,436)/MW/month.

In February, Gensol raised ₹9 billion (~$108 million) in equity capital through warrants convertible into equity shares on a preferential basis. The equity funding saw participation from international and domestic participants, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund.

Last October, the company secured a ₹3.02 billion ($36.3 million) solar EPC contract for a 62 MW solar project from Maharashtra State Power Generation Company.

Earlier this year, Gensol secured an EPC contract worth ₹1.39 billion (~$18.06 million) from Sarda Energy for a 33 MW captive solar power project.

India installed 1.7 GW of rooftop solar capacity in 2023, the second-highest annual installation numbers on record, according to Mercom India Research’s newly unveiled 2023 Q4 & Annual Mercom India Rooftop Solar Market Report.