Solar Surge: GP Eco Solutions Bags Rs 300 Crore EPC Contract for Punjab Ground-Mounted Project

Image Source : Energetica India Magazine

GP Eco Solutions India Ltd has secured a turnkey EPC contract for a 128 MWp ground-mounted solar power project in Punjab, marking a major milestone in its renewable energy portfolio. The project, valued at over Rs 300 crore, will be executed in modular phases and is expected to significantly boost the company’s presence in India’s solar infrastructure landscape.

Key Highlights From the Contract

- The project will be commissioned in three phases: 40 MWp + 40 MWp + 48 MWp
- Completion is targeted within 18 to 24 months, with phased rollout enabling early revenue recognition
- The contract reinforces GP Eco’s capabilities in large-scale solar EPC execution, complementing its rooftop and inverter businesses
- The company will deploy its proprietary Invergy hybrid inverters and LFP battery systems for grid stability
- The Punjab project follows recent wins in Uttar Pradesh under the PM-KUSUM scheme and a Rs 1,000 crore MoU with Madhya Pradesh for solar manufacturing

Financial and Strategic Context

- GP Eco reported a 154.5 percent jump in net profit to Rs 7.33 crore in FY24, with revenue rising 34.9 percent to Rs 138.44 crore
- The company is expanding its manufacturing footprint with plans for 5 GW solar panel and 2 GW solar cell capacity by FY2028
- The EPC win supports its ambition to become a vertically integrated clean energy player across generation, storage, and distribution

Outlook

With this contract, GP Eco Solutions is poised to scale its operations and contribute meaningfully to India’s renewable energy targets.

Sources: Business Standard, Energetica India, Trade Brains, Saur Energy, Einfews EnergyInfra Market