Gensol Engineering to sell US arm Scorpius Trackers for Rs 350 cr
Gensol Engineering on Tuesday said it has inked a pact for sale of its US subsidiary Scorpius Trackers Inc for Rs 350 crore to a major renewable energy solutions provider in the US. The deal includes the transfer of exclusive and global intellectual property (IP) rights (except India) for Scorpius Trackers' advanced solar tracking technology, the company said in a statement.
Trump-Modi Meet
The mega MIGA, MAGA plans of India's Modi and US' Trump
Trump says India has more tariffs than others
Trump's 'golden rule' for imposing reciprocal tariffs
According to the statement, Gensol Engineering — a leading player in India's renewable energy sector — has signed a non-binding term sheet for a Rs 350 crore strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc, to a major renewable energy solutions provider in the US.
This transaction underscores Gensol's strategy to monetise high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company's financial position, it said.
The deal will be completed in two tranches, with full closure expected by March 2026, subject to due diligence, customary approvals, and closing conditions, it said.
Proceeds from this transaction will be strategically redeployed to expand Scorpius Trackers' operations in the country, fuel solar EPC business growth, and support Gensol's broader clean energy initiatives.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha
