Gensol Engineering Ltd. establishes Scorpius Trackers Inc. in Delaware, to transform the solar tracker business in the United States with revolutionary technology and a new California office. The company will make its RE+ conference debut.

Gensol Engineering Ltd. (BSE: 542851, NSE: GENSOL) has announced the formation of Scorpius Trackers Inc., a Delaware-based company, to enter the US market. Scorpius plans to launch its cutting-edge tracker technology at the RE+ Conference in Anaheim from September 9 to 12, 2024, with further showcases planned in Austin and San Diego. Scorpius Trackers’ first office in the United States will be ideally positioned in California, placing the company at the centre of one of the world’s most dynamic renewable energy marketplaces.

This strategic decision demonstrates Scorpius’ commitment to capitalising on the tremendous potential of the United States solar tracker sector, which is the world’s largest, with trackers deployed totalling over 25,000 MW each year. Importantly, the US tracker market is expanding at a CAGR of more than 20 percent. With an ambitious objective of supplying over 2,000 MW per year by 2028, Scorpius Trackers Inc. plans to use its (Scorpius India) decade of experience and 1,000 MW+ of contracted orders in important areas including as India, Africa, Japan, and the Middle East. The company’s innovative technology, which is designed to function well on both flat and hilly terrains, combined with its cheap pricing, is expected to drive this expansion.

Commenting on the expansion, Anmol Singh Jaggi, Chairman and Managing Director of Gensol Engineering Ltd., says, “The U.S. market is pivotal to our global strategy, and the launch of Scorpius Trackers Inc. marks a significant milestone in our growth journey. With the USA leading the world in solar tracker adoption, our entry into this market aligns perfectly with our vision to provide designed in India and made-in-India high-technology products to the world. We are confident that under the leadership of Shailesh Vaidya, Scorpius Trackers will rapidly establish itself as a key player in the U.S. and help us tap into the potential of solar energy across the world.”

Shailesh Vaidya, Co-founder and CEO of Scorpius Trackers Pvt. Ltd. (India), who will lead the U.S. operations as CEO of Scorpius Trackers Inc., adds, “Entering the U.S. market is a landmark achievement for Scorpius Trackers. Our proven technology and deep expertise in diverse global markets will ensure that we develop cutting-edge, reliable, and cost-effective solutions that will cater to the unique needs of U.S. utility-scale plants. This expansion will pave the way for substantial growth and further establish Scorpius Trackers as a leader in the solar tracking industry.”

Scorpius Trackers, founded in 2012, has quickly established itself as a solar tracking industry leader, renowned for its proactive, end-to-end single-axis tracking systems. The company touts worldwide patented technology and has installations in Japan, the Middle East, India, and Africa. Gensol Engineering Limited’s acquisition in 2023 has strengthened its market position and expanded its capabilities through a track record of successful cooperation on a wide range of solar projects throughout the world.

For more information, visit: https://www.gensol.in/