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Gensol Engineering has acquired Indian solar tracking specialist Scorpius Trackers for $16.42 million.
From pv magazine India
Gensol Engineering has acquired Indian solar tracker specialist Scorpius Trackers, which has developed its own patented tracker controller and software solutions. Gensol Engineering said the acquisition will allow it to offer its clients end-to-end engineering, procurement and construction (EPC) solutions.
Scorpius Trackers will operate as a wholly owned subsidiary of Gensol Engineering. The Pune.based company has 600 MW of capacity in operation across India, Japan, Africa, and the Middle East.
“By combining our expertise in solar EPC and Scorpius’s strong reputation and expertise in solar trackers, will help us offer a comprehensive EPC package,” said Anmol Singh Jaggi, managing director of Gensol Engineering. “We see the global demand for trackers is growing faster than the overall demand for mounting systems as solar energy projects that use trackers generate significantly more ROI [return on investment] than projects that do not.”