 "solar energy, solar, solar panel")
Representative Image | (Photo: Reuters)
Homegrown Gensol Engineering on Wednesday said it has set up a subsidiary in the US with an aim to supply over 2,000 MW solar trackers annually by 2028 to key renewable energy markets.
The first US office of the newly formed arm Scorpius Trackers Inc will be located in California, positioning the company at the heart of one of the most dynamic renewable energy markets globally, Gensol Engineering said in a statement.
“Gensol Engineering announces entry into the US market with Scorpius Trackers Inc. With a goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc aims to capitalise on its decade-long experience,” the company said.
It has over 1,000 MW of contracted orders across key markets including India, Africa, Japan, and the Middle East, it said.
The US solar tracker market, which is the largest in the world deploys trackers aggregating over 25,000 MW annually.
The US tracker market is growing at a robust compound annual growth rate (CAGR) of more than 20 per cent, Gensol Engineering said.
Gujarat-based Gensol Engineering is a leading player in the renewable energy sector specialising in solar power EPC services, along with electric mobility solutions.
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First Published: Aug 28 2024 | 4:59 PM IST