Gensol Engineering expands global footprint, enters in US Market

Electric equipment manufacturer Gensol Engineering has expanded its global footprint with the launch of its subsidiary Scorpius Trackers Inc. in the United States. The company said that its first US office will be located in California - at the heart of one of the most dynamic renewable energy markets globally.

"Gensol Engineering Ltd. today announced its entry into the U.S. market with the launch of its Delaware-based subsidiary, Scorpius Trackers Inc. With this, Scorpius is set to debut its state-of-the-art tracker technology at the RE+ Conference in Anaheim, 9 – 12 September 2024, with subsequent showcase planned in Austin and San Diego," the company said in an exchange filing.

This move will help Scorpius leverage the vast potential of the US solar tracker market, which is the largest in the world and deploys trackers aggregating over 25,000 MW annually. Also, the US tracker market is growing at a robust CAGR of more than 20 per cent.

“Entering the US 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 US 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,” said Shailesh Vaidya, co-founder and chief executive officer of Scorpius Trackers India Pvt.

Scorpius Trackers, founded in 2012, was acquired by Gensol Engineering Limited in 2023.