Gensol Engineering Limited has signed a non-binding term sheet for a Rs 3.5 billion strategic transaction involving the sale of its US subsidiary, Scorpius Trackers to a major renewable energy solutions provider in the US.
The deal includes the transfer of exclusive global intellectual property rights for Scorpius Trackers’ advanced solar tracking technology. The transaction will be completed in two tranches, with full closure expected by March 2026, subject to due diligence and regulatory approvals. Further, proceeds from the transaction will be redeployed to expand Scorpius Trackers’ operations in India, strengthen Gensol’s balance sheet, and support its clean energy initiatives.