Gensol Engineering Limited has signed a non-binding Term Sheet for an INR 350 crore deal to sell its U.S. subsidiary, Scorpius Trackers Inc., to a major U.S. Renewable Energy Solutions provider. The transaction includes transferring global IP rights (excluding India) for Scorpius Trackers’ solar tracking technology.
This move aligns with Gensol’s strategy to unlock capital, monetize assets, and reinvest in core growth areas, strengthening its financial position. The deal will be completed in two tranches, with full closure expected by March 2026, subject to approvals.
Proceeds will be used to expand Scorpius Trackers’ operations in India, grow Gensol’s solar EPC business, and support clean energy initiatives. Scorpius Trackers Pvt. Ltd., India, remains a wholly owned Gensol subsidiary, retaining IP for Indian projects.