Gensol Engineering Enters US Market With Subsidiary Scorpius Trackers Inc.
Setting up Scorpius Trackers' first US office in California will help the firm leverage the vast potential of the US solar tracker market.
Gensol Engineering Ltd. has entered the US market with the launch of its subsidiary Scorpius Trackers Inc. in Delaware.
Scorpius Trackers' first US office will be strategically located in California, as the company will be at the heart of one of the most dynamic renewable energy markets globally.
The move will help the firm leverage the vast potential of the US solar tracker market, which is reportedly the largest in the world and deploys trackers aggregating close to 25,000 megawatts annually.
“Entering the US market is a landmark achievement for Scorpius Trackers. Our proven technology and deep expertise in diverse global markets will ensure that we develop cutting-edge, reliable, and cost-effective solutions that will cater to the unique needs of US utility-scale plants. This expansion will pave the way for substantial growth and further establish Scorpius Trackers as a leader in the solar tracking industry,” said Shailesh Vaidya, co-founder and chief executive officer of Scorpius Trackers India Pvt.
“The US market is pivotal to our global strategy, and the launch of Scorpius Trackers Inc. marks a significant milestone in our growth journey. With the USA leading the world in solar tracker adoption, our entry into this market aligns perfectly with our vision to provide designed in India and made in India high technology products to the world," said Anmol Singh Jaggi, chairman and managing director of Gensol Engineering Ltd.
Shares closed 2.35% higher at Rs 946.00 apiece on the NSE, compared to a 0.03% advance in the NSE Nifty 50.
