Shares of Gensol Engineering were locked at 5% upper circuit on 29 August after the company announced that it had bagged Solar EPC projects in Dubai.

The company announced that it has received an order for solar engineering, procurement, and construction (EPC) projects with the Dubai Police and the Dubai Workshop Warehouse.

The total capacity of these projects is 14.08 megawatts, with a total order value of Rs 101.6 crore.

The two contracts within Dubai entail design, engineering, supply, construction, erection, testing, and commissioning, along with the operation and maintenance of these projects.

The Dubai Government Workshop Warehouse project is expected to be operational by November 2023, whereas the Dubai Police project is scheduled to go online in June 2024.

Earlier in August, the company received a Letter of Intent to provide 300 electric vehicles with fleet management service on an operating lease for five years from Odisha Renewable Energy Development Agency.

The company is a part of the Gensol Group of companies that offer EPC services for developing solar power plants.

At 4:05 pm, the shares of Gensol Engineering closed at Rs 1,761.75 or 5.00% above its previous close on NSE.