Gensol Engineering has acquired Indian solar tracking specialist Scorpius Trackers for $16.42 million.
Gensol Engineering has acquired Indian solar tracking specialist Scorpius Trackers, which has developed its own patented tracking controller and software solution. Gensol Engineering said the acquisition will allow it to offer its customers end-to-end Design, procurement and construction (EPC) solutions.
Scorpius Trackers operates as a wholly owned subsidiary of Gensol Engineering. Pune.based company has 600 MW of capacity in operation in India, Japan, Africa and the Middle East.
“Combining our expertise in solar EPC with Scorpius’ strong reputation and expertise in solar trackers allows us to offer a comprehensive EPC package,” said Anmol Singh Jaggi, CEO of Gensol Engineering. “We see global demand for trackers growing faster than overall demand for mounting systems because solar projects using trackers generate significantly higher ROI (return on investment) than projects that don’t.”