Gensol Engineering has announced the sale of its US subsidiary, Scorpius Trackers Inc., to a leading renewable energy provider in the United States for ₹350 crore. The deal includes the transfer of exclusive global intellectual property (IP) rights for Scorpius Trackers’ advanced solar tracking technology, with the exception of India.
This sale is part of Gensol’s strategy to free up capital from non-core assets. The company plans to reinvest the funds into its primary growth areas, particularly within India’s renewable energy sector. The transaction will be completed in two stages, with the final closure expected by March 2026, subject to due diligence and regulatory approvals.
The funds raised from the sale will be used to support Scorpius Trackers’ growth in the US, strengthen Gensol’s solar EPC (Engineering, Procurement, and Construction) business, and further the company’s clean energy goals. This strategic move is expected to improve Gensol’s financial standing, promote sustainable growth, and create long-term value for shareholders.
Anmol Jaggi, Chairman and Managing Director of Gensol, commented, “This sale enables us to reinvest in high-potential opportunities in India while improving our financial position.” Despite the transfer of global IP rights, Gensol will continue to own Scorpius Trackers Pvt Ltd in India. The Indian operations will focus on maintaining innovation and serving one of the fastest-growing solar markets in the world.
Shailesh Vaidya, CEO of Scorpius Trackers, highlighted that the sale will expand the company’s global technology presence. It will also help the company tap into the growing solar market in India. Gensol’s approach to strategic asset monetisation aims to improve capital efficiency and unlock value from key subsidiaries.
Gensol Engineering Ltd. is a prominent player in the renewable energy sector, offering comprehensive solar energy solutions. The company provides services such as solar project management, consulting, feasibility studies, design, engineering, procurement, and construction. Gensol also delivers advanced asset management and operations and maintenance (O&M) services to ensure optimal performance of solar installations. Through its expertise, Gensol has contributed to the adoption of clean energy across various sectors, supporting India’s renewable energy goals and the global shift toward sustainable energy.
