M&A
Gensol Engineering to acquire Scorpius Trackers for Rs.135-Cr
Ahmedabad-headquartered Gensol Engineering Ltd is to acquire 100 % share capital and voting rights in Pune-based Scorpius Trackers Pvt Ltd for INR 135 crore. Scorpius designs, develops, markets and services single axis tracker for solar power generation. It offers solar tracking technology ranging from maintenance-free bearings, real-time GPS enabled tracking, IoT (Internet of Things) and more at minimal O&M costs. The acquisition is expected to strengthen Gensol's ability to offer renewable energy solutions enabling its customers to reduce their cost of energy.
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