Gensol Engineering has signed a non-binding term sheet to sell its US arm Scorpius Trackers for INR 350 crore to a major renewable energy solutions provider in the US. The deal includes the transfer of exclusive and global intellectual property (IP) rights (except India) for Scorpius Trackers’ advanced solar tracking technology.
“This transaction underscores Gensol’s strategy to monetize high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company’s financial position,” stated Gensol.
The deal will be completed in two tranches, with full closure expected by March 2026. The proceeds from this transaction will be redeployed to expand Scorpius Trackers’ operations in India, fuel solar EPC business growth, and support Gensol’s broader clean energy initiatives.
Anmol Jaggi, chairman & managing director, Gensol Engineering, “The monetization of Scorpius Trackers’ US business enables us to reinvest in high-growth opportunities in India while strengthening our financial position. This marks a significant milestone in our journey to enhance shareholder value and accelerate our leadership in renewable energy.”
While the deal transfers global IP rights (excluding India) to the US entity, Scorpius Trackers, India, remains a wholly owned subsidiary of Gensol Engineering, continuing to focus on the Indian market. Scorpius India will retain its IP for Indian projects.
Shailesh Vaidya, CEO, Scorpius Trackers, added, “This agreement positions Scorpius Trackers for rapid growth in the US market while allowing us to retain our market focus in India. The partnership will strengthen our technology presence globally and enable us to capitalize on the immense growth potential in India’s solar sector.”
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